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Things just got real - Santander abandons chauffeurs

May 25, 2016 8:03 AM ETBanco Santander, S.A. (SAN) StockSANBy: Stephen Alpher, SA News Editor26 Comments
  • Senior executives at Banco Santander (NYSE:SAN) will have to start driving their company-issued $100K Audis by themselves as the profit-starved lender does away with the use of chauffeurs for all except the Chairman and CEO.
  • The move comes as the bank cuts staff and closes hundreds of branches amid a promise to shave €3B from expenses by the end of 2018.

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