• Swindon & Wiltshire Economy
• Monday October 26 2026

Nationwide to cut 275 more jobs as Swindon-based lender integrates Virgin Money

Swindon-headquartered Nationwide Building Society is to cut a further 275 jobs as it continues integrating Virgin Money following its £2.9bn takeover.

The latest reductions will fall across the society’s retail division, including mortgage roles, as well as HR, the chief operating officer’s office, customer operations, communications and finance.

Nationwide has not said where the affected roles are based, but confirmed no customer-facing staff are at risk.

Staff were told of the plans late last week. The building society said the changes are intended to simplify operations and “remove duplication” after Virgin Money’s workforce was absorbed into the wider group following the acquisition completed in April.

A Nationwide spokesperson said: “As we integrate Virgin Money into Nationwide, we’re making a limited number of changes.

“No customer-facing colleagues are at risk and we’re supporting those affected, including through retraining and redeployment.”

The society, whose head office is at Nationwide House on Pipers Way in Swindon, said the cuts are not linked to artificial intelligence.

The announcement is the second major round of redundancies since Nationwide completed its takeover of Virgin Money. In June, it announced 600 job losses, bringing the total number of roles affected across the two rounds to 875.

Nationwide said affected employees will receive support to find alternative roles, including retraining and redeployment opportunities. It stressed that frontline branch and customer-facing positions are not included in the latest changes.

The cuts come despite Nationwide’s commitment to keep its network of around 700 branches open until at least 2030. The society has repeatedly positioned branch retention as a central part of its mutual ownership model following the Virgin Money deal.

Virgin Money had more than 7,000 employees when Nationwide’s takeover was announced in 2024, while Nationwide employed around 18,000 people. The combined group now has a workforce of roughly 27,000 across the UK.

The latest job losses underline the scale of restructuring involved in bringing together two of the UK’s largest mortgage and savings providers.

Nationwide has said overlapping functions created by the merger require a limited number of workforce changes, although unions and staff representatives are likely to press for clarity on the locations and teams affected.