Nationwide building society is to axe another 275 jobs in its Virgin Money merger, months after 600 roles went

Employees were told on Wednesday that cuts will hit mortgages, HR, the chief operating officer's office, customer operations, communications, and finance. The aim is to 'remove duplication' following the absorption of thousands of Virgin Money workers. No customer-facing roles are under threat, in line with Nationwide's pledge to keep all 700 branches open through 2030. Members were never given a vote on the £2.9bn deal.

A Nationwide spokesperson described the changes as 'a limited number of changes', with retraining available for affected staff.

Virgin Money contributed more than 7,000 employees to the combined organisation, bringing total headcount to around 27,000.

Shortly beforehand, Barclays had announced the elimination of 5,000 jobs as the bank accelerates its adoption of AI.