A major UK building society has revealed nearly 500 of its employees are at risk of losing their jobs as part of a huge shake-up.
Nationwide has confirmed the move is part of an overhaul of head office operations at the building society. The firm said the redundancy consultation is part of a “streamlining” to improve efficiency and help it direct investment to other parts of the business.
The Swindon-based company, led by Debbie Crosbie, said it ultimately expects 200 workers to leave, following a process which will seek to find workers new roles. The announcement comes just hours after company bosses said the were rescinding its “work anywhere policy” – as full-time staff will be required to return to the office for at least two days a week from early next year.
However, “customer-facing colleagues” will not be affected by the shake-up, as it reiterates its commitment to running branches across the country. It is understood the building society will not move roles offshore as part of the changes to head office.
A spokesman for Nationwide said: “Our strategy is to give customers 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.
“We are streamlining some of our head office teams and expect around 200 people to leave the society. This will enable us to increase investment in the value and service we provide our customers. We have worked hard to keep the number of affected colleagues to a minimum and are ensuring we provide the right support for those impacted.”
