Nationwide Building Society is expected to cut 600 jobs following its takeover of Virgin Money, according to reports.
Branch nationwide
The £2.9bn deal was completed in April this year and resulted in some overlap in roles.
As a result, the UK’s largest building society is consulting employees and unions about redundancies. The Guardian newspaper revealed.
The consultation includes the Nationwide Group and Une employees union, which represents employees who have moved under the Virgin Money brand.
A Nationwide spokesperson says: “Nationwide is now the fastest growing banking provider in the UK, as it continues to attract more customers and expand into new areas such as business banking.
“As we integrate Virgin Money, we are making some modest changes in areas where activities overlap.
“However, we are committed to retaining the talents and skills of our colleagues wherever we can.”
Last week, Nationwide confirmed it would no longer use the Clydesdale Bank brand for new mortgage customers following the acquisition of Virgin Money.
