Nationwide to cut 275 jobs in latest round since takeover of Virgin Money
Nationwide Building Society is cutting 275 jobs as part of an effort to simplify operations following its £2.9 billion acquisition of Virgin Money. The cuts affect retail and administrative divisions, though the company maintains that no customer-facing staff will be impacted.
Why it matters
The restructuring highlights the challenges of integrating large financial institutions and the ongoing trend of consolidation in the banking sector.
Nationwide said no customer-facing staff would be affected. The cuts are to fall across its retail division and are on top of the 600 job losses announced in June. Nationwide said no customer-facing staff would be affected. The cuts are to fall across its retail division and are on top of the 600 job losses announced in June. Nationwide Nationwide to slash 275 jobs in latest round of cuts since takeover of Virgin Money Exclusive : Bosses tell staff cuts part of effort to ‘simplify’ operations and ‘remove duplication’ across wider workforce
Prefer the Guardian on Google 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 .
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