Banking giant Abbey National is to restructure its loan processing business in Bradford - but has insisted there are no plans to shed any jobs.

The company's new Spanish owner - Banco Santander Central Hispano (SCH) - is to turn its attention to the Bradford offices in the next stage of a major cost-cutting exercise.

The centre has escaped any casualties during the first wave of job cuts, which centred on IT departments and is likely to see 2,000 staff depart before the end of the year. A spokesman confirmed all those affected have now been told and said the sites in Milton Keynes, London, Glasgow and Belfast had been affected. It is thought jobs are also being cut at branches.

The spokesman said that the changes at Bradford would not mean the loss of any jobs among the 1,420-strong workforce in the city. She said: "The changes are all about reducing costs.

"But this will be achieved by people changing their roles and the work being done in different ways. At the moment, there are no plans for any redundancies."

SCH, which completed its takeover of struggling Abbey last year, had said it expects to axe around 3,000 posts in total as it attempts to get the business back on track.

Linda Rolph, general secretary of the Abbey National Group Union, said she was aware that all the staff at risk of redundancy this year had now been told.

She understood that changes at Bradford would not lead to the loss of any jobs but said further details were likely to emerge in the next few weeks.

The job cuts are the first raft of major changes since the Spanish company took over.

It is also changing the Abbey logo to reflect that of the parent company.