Santander takeover could lead to 8,000 job losses - papers 13th August

Alongside a plan to achieve another 110m of revenue synergies, Citigroup analysts have told the Telegraph Santander will have to make some drastic cuts to achieve efficiencies of 18%. At the same time, however, sources close to Santander suggest it will only need to cut Abbey's 25,000 workforce by about 10%, mostly in technology and processing functions. COUNTRYWIDE, the UK’s largest estate agency chain, yesterday said the number of house sales it arranged in July was down 25% on a year ago, showing that successive interest rate rises have started to bite, says the Guardian. Owner ...