By MADRID, April 17 (Reuters) – Spain’s Santander
will exit the mortgage business in Germany and cut around 500
jobs there by the end of 2026 as part of a process to
concentrate on more profitable activities, a spokesperson for
the lender said on Wednesday.
The reduction in staff to 3,600 will be distributed across
all Santander Germany companies, such as its consumer bank, and
the move will not lead to a reduction of its branch network.
“We will aim to achieve the necessary reduction in roles
through natural attrition, as well as voluntary and early
retirement,” a spokesperson said, adding that all Santander
employees in Germany had been informed.
(Reporting by Jesús Aguado, editing by Andrei Khalip)
