250 jobs to go at Cheshire Building Society

NATIONWIDE has announced its intention to shut the Cheshire Building Society’s headquarters in Macclesfield with the loss of 250 jobs.

The building society has decided to shut the offices in Castle Street after undertaking a ‘strategic review’ of its brands.

Swindon-based Nationwide is also shutting five branches in Droylsden, Poynton, Romiley, Biddulph and Leyland leaving the business with 37 branches in total.

A statement released by the company said that up to 250 jobs at the Cheshire will be affected by these decisions within the next 24 months.

During that time, the society intends to “work with employees to help them find suitable roles within or outside the Nationwide Group”.

A spokesman for the company said: “It is proposed that within the next two years the Macclesfield regional office will close, reducing duplication of work already carried out at other administrative sites across the Nationwide Group. 

“In addition, Nationwide has today announced the closure of five Cheshire branches – this is due to low customer use and the close proximity of other Nationwide Group branches, making them no longer financially viable – and the closure of the Cheshire Estate Agency operation, which is not core to the Nationwide model. 

“Also, Nationwide has taken the decision to cease offering Cheshire branded mortgages due to low volumes.

“Cheshire customers requesting new mortgages will be offered a wide range of deals available from Nationwide.”

Matthew Wyles, group distribution director of Nationwide, said: “Since rescuing the Cheshire Building Society during the global financial crisis of 2008/9 we have remained committed to keeping their presence on the High Street, but it has become clear that we need to make a number of changes in order to sustain their future viability.

“We have had to make some difficult decisions, but the strategy we have outlined today is designed to strengthen our regional brands proposition, giving the Cheshire the focus and clarity needed for it to succeed.

“The decisions we are taking are absolutely vital and would have been inevitable for any business wishing to stabilise and maintain the Cheshire for the benefit of members, both now and in the future.

“We are fully supporting our people and members through this period of change, whilst ensuring our business focus is maintained and the service we provide to our customers is protected.”