UK building society Nationwide to cut around 450 jobs
UK-based Nationwide Building Society – the world’s largest building society with 16 million members – is cutting around 450 jobs as it looks to focus investment on its customer-facing services.
Nationwide is cutting around 450 jobs
Nationwide employs around 18,000 staff across the country with 6,500 based at its Swindon headquarters. According to local paper the Swindon Advertiser, jobs will be cut across the company and not just at the Swindon HQ.
A Nationwide spokesperson confirmed to FinTech Futures the building society is cutting around 450 jobs as it looks to “streamline” some of its non-customer-facing teams, which will enable the firm to increase investment elsewhere.
“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 adds.
“We have worked hard to keep the number affected colleagues to a minimum and expect around 450 to leave the Society. We are ensuring we provide the right support for those affected.”
In December, Nationwide partnered with other UK banks and building societies to launch Cash Access UK, a company that aims to protect access to cash across the country.
