Building society confirms it is to axe 450 jobs

Wiltshire based Nationwide Building Society has confirmed it is axing around 450 of its staff.

The Nationwide, which has its head office in Swindon, employs around 18,000 people across the country.

A company spokesperson confirmed the cuts and said they are part of a move to streamlining some non-member facing roles.

Nationwide said it had worked hard to keep the number affected colleagues to a minimum but added it expects around 450 will lose their jobs.

A statement said: “Our strategy is to give members greater value, better products and a distinctive customer experience.

“To do this our systems and operations must be best in class and we need to be more agile and efficient.”

The spokesperson said the job losses in non-member facing teams will enable the building society to “increase investment in the value and service we provide our members”.

Two years ago, Nationwide  closed three offices in Swindon as part of the move towards flexible working.

Nationwide has around 625 branches across the UK making it the third largest bank.