Santander Bank to Cut 3,000 Jobs as AI Replaces Workers

Spanish banking giant Santander is offering early retirement to approximately 3,000 employees as the bank accelerates its adoption of artificial intelligence. The voluntary departure program reflects a broader trend across the financial sector, where banks are increasingly turning to AI-driven automation to handle tasks previously performed by human staff. Santander, one of the largest banks in the eurozone with operations across Europe and Latin America, has framed the program as voluntary, meaning affected employees will be offered incentives to leave rather than being dismissed outright. The move underscores growing concerns among labor groups about AI's long-term impact on white-collar employment in the financial industry.