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Abbey, the financial services firm taken over by Spanish bank, Santander Central Hispano, is to cut 335 IT jobs.

Milton Keynes is to bear the brunt of the losses with 200 jobs. Belfast and Glasgow will lose 85 and 50 respectively.

The cuts were not totally unexpected. SCH had made synergies from IT improvements a central plank of its bid. £305m savings are forecast due to using SCH's main banking software, Partenon. The savings according to a document to shareholders should appear from 2007.

3,000 jobs across Abbey are to go. 1,300 other IT staff are unaffected. 140 of those affected by the cuts will transfer to another Abbey subsidiary, Isban.

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