Nationwide has announced that almost 500 workers are at risk of redundancy at its head office in Swindon.
As a result of the restructuring exercise, the building society said it expected about 200 out of 470 workers to leave, while others will be placed in new roles.
The redundancy consultation aims to improve efficiency and direct investment into other areas of the business, it said, and customer-facing colleagues will not be affected.
Last week the organisation said it was rescinding its ‘work from anywhere’ policy, which it had announced in 2021.
It has asked full-time employees to start coming to the office for at least two days a week from early next year.
A spokesman from Nationwide 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.
“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.”
Debbie Crosbie joined the building society as its new CEO in June 2022 from TSB, where she led a successful turnaround.
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