Santander has taken over Alliance and Leicester and the name will be disappearing off the nation’s high streets along with Abbey National and Bradford and Bingley. They are all owned by the Santander group and their names will be changed by the end of 2010 to Santander. The deal itself is reported to cost £1.3 billion, with the aim to reduce some of the stresses on the UK banking system.
Mr Mike Young, a spokesman for the Santander group has confirmed, "We have about 1,500 people at Carlton Park in Narborough (Alliance & Leicester's headquarters) and we're committed to that site." and that the 3,000 jobs in their Leicester site should also be safe. However he didn’t directly rule out any compulsory redundancies after the Alliance and Leicester have shed the 1,900 jobs since December.
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