Nationwide Building Society puts 470 staff on redundancy notice

Cuts mainly at HQ, retail and mortgage divisions come days after return to the office' policy emerged

Nationwide Building Society has told nearly 500 staff they are at risk of redundancy, just weeks before the Christmas holidays.

The cuts are part of a sweeping restructuring programme, launched under its chief executive, the former TSB boss Debbie Crosbie, which is meant to streamline" head office operations by changing reporting lines or slashing jobs. The exercise will ultimately affect 1,000 staff.