United Kingdom
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

3,000 jobs
Number of planned job losses
Job loss
Announcement Date
22 November 2004
Employment effect (start)
Foreseen end date


Following the takeover of the bank and mortgage provider Abbey by Santander Central Hispano (BSCH) the new owners of the group have said they expect there to be a 3,000 reduction in the number of the employees. Union officials have voiced ‘increasing concern’ about Abbey jobs in Scotland after accusing the bank's new owners of cancelling talks at the last minute. Amicus said key talks with Santander Central Hispano were called off at the ‘eleventh hour’. In particular, the union said it wanted assurances about jobs at Scottish Mutual and Scottish Provident. The overall job losses are thought to affect all areas of the banks employment but no precise plans have yet been announced.


  • 25 November 2004: The Guardian
  • 23 August 2004: BBC News


Eurofound (2004), Abbey, Merger/Acquisition in United Kingdom, factsheet number 60773, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60773.