Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Spanish major bank Santander is planning to close 50 branches in Germany. This would affect 150 to 170 employees.
The bank aims to optimise its branch network and is responding to the profound changes taking place in the banking sector. Increasingly, customers prefer digital services, which is reducing demand for traditional in‑branch services.
Among the locations mentioned are Aalen, Brandenburg, Celle, Flensburg, Greifswald, Kempten, Leverkusen, and Tübingen. However, the company states that a final decision on which branches will ultimately be affected has not yet been made.
The measure comes despite a historic record result: only recently, the company announced a profit of €14.1 billion for 2025. Santander employs around 3,900 people in Germany.
Santander Bank last closed 100 branches and cut 600 jobs in 2017 as part of the merger of the previously separate sales networks of Santander Consumer Bank and Santander Bank Santander Consumer Bank 2017 - DE. Additionally, the company cut 500 jobs at their headquarters as it attempted to simplify their business model and withdrew from the new construction financing business Santander 2024 - DE.
Eurofound (2026), Santander, Closure in Germany, factsheet number 204343, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204343.