Abbey plans to ditch 50 marketing posts

Abbey is to axe up to 20% of its retail bank marketers as part of a wide-ranging restructure.

Although there will be some new positions, Abbey has confirmed that up to 50 roles across marketing, brand and communications, commercial planning and e-commerce could go. The majority of these staff are based in Milton Keynes.

The restructure marks the latest in a series of cost-cutting measures since the bank's 拢8bn takeover by Banco Santander last November.

An Abbey spokeswoman said: 'We are continuing to review staffing levels as part of continuous efficiency improvements.'

The bank issued a warning of additional staff cuts in October.

The latest losses will be in addition to the 4000 jobs cut by the end of this year, as Banco Santander seeks to transform the former building society from a mortgage and savings specialist into a full retail bank.

As part of this strategy, Abbey is cutting back-office staff and increasing customer-facing personnel.

It has already reviewed its main marketing supplier arrangements. Abbey moved its 拢26m media planning and buying account out of MindShare into Carat last month. In March, TBWA\London lost the creative account to WCRS.

The reviews followed the scrapping of a multimillion-pound rebrand. The bank has since adopted its new owner's corporate colours and flame logo.

Abbey is the UK's sixth-biggest high-street bank, with a 6% share of the market.

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