Nationwide to cut 275 jobs in latest round since takeover of Virgin Money
Source: The Guardian ·
Exclusive: Bosses tell staff cuts part of effort to ‘simplify’ operations and ‘remove duplication’ across wider workforceNationwide building society is slashing another 275 jobs in the latest round of cuts since bank bosses pushed through a £2.9bn takeover of Virgin Money.Bosses made the announcement to staff on Wednesday, saying it was part of efforts to simplify the bank’s operations and…
From the source
Nationwide building society is slashing another 275 jobs in the latest round of cuts since bank bosses pushed through a £2.9bn takeover of Virgin Money. Bosses made the announcement to staff on Wednesday, saying it was part of efforts to simplify the bank’s operations and “remove duplication” after absorbing thousands of staff in to the group’s wider workforce. The cuts are to fall across its retail division, including those working on mortgages, as well as in HR, the chief operating officer’s office, customer operations, communications and finance. Nationwide said no customer-facing staff would be affected, which appears to be in line with its pledge to keep its 700 branches open until at least 2030. It follows closely behind the last round of job losses, which were announced in June and affected 600 staff. Commenting on the latest cuts, a spokesperson for the lender said: “As we integrate Virgin Money into Nationwide, we’re making a limited number of changes. No customer-facing…