Nationwide to cut 450 jobs 

The Swindon-headquartered building society said the job losses would enable them to "increase investment in the value and service we provide our members"

A spokesperson said Nationwide "worked hard" to keep the number of affected roles "to a minimum" but it expects around 450 jobs to be cut.

Reports suggest jobs will be cut across the company and not just at the Swindon Headquarters.

A statement said: "Our strategy is to give members greater value, better products and a distinctive customer experience."

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"To do this our systems and operations must be best in class and we need to be more agile and efficient."

Nationwide, which has over 17,000 employees, will provide the "right support" for people affected by the cuts.

Many banks, including Barclays, HSBC, Lloyd’s Bank, TSB and Halifax have announced closures in 2023, although Nationwide has only confirmed one branch closure, in Marylebone, London.

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It currently has 625 branches in operation across the UK.

Nationwide’s CEO Debbie Crosbie said in June last year: "Supporting members through the cost-of-living crisis is my immediate priority. That’s why I’ve decided to extend our Promise to keep branches on the high street."