Nationwide has announced around 500 head office employees are at risk of redundancy due to a “streamlining” initiative.
The Swindon-based building society expects around 200 employees to let go, aiming to facilitate their transition to new roles.
Nationwide confirmed the redundancy consultation is part of an effort to enhance efficiency and redirect investments into other business areas.
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However, the company stressed “customer-facing colleagues” will not be affected.
This development follows the recent decision by Nationwide to revoke its “work anywhere policy.”
The firm mandates full-time staff to return to the office for at least two days a week starting early next year.Â
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A Nationwide spokesman 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.”
They added: “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.”
