The reductions add to 600 job cuts announced in June. Nationwide says customer-facing roles are excluded and affected staff are being supported through retraining and redeployment.
Nationwide has announced plans to cut another 275 jobs across its retail division and support functions as it integrates Virgin Money. Managers told staff on Wednesday, The Guardian said in an exclusive report.
The planned reductions are additional to 600 job cuts announced in June. Nationwide, a building society owned by its members, completed its £2.9 billion takeover of Virgin Money in late 2024, bringing the commercial bank into the group.
The reductions cover retail roles, including work on mortgages, alongside human resources, the chief operating officer’s office, customer operations, communications and finance.
Nationwide said no customer-facing staff are at risk. Support for affected employees includes retraining and redeployment to other roles.
Nationwide said the changes aim to simplify operations and remove duplication after thousands of Virgin Money staff joined its workforce. Executives had said in 2024 that overlapping roles would lead to limited workforce changes and that a formal staffing review would follow.
A Nationwide spokesperson said the cuts were not linked to growing use of superintelligence (SI).
Nationwide is due to release its half-year financial results on 19 November.
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