Nationwide, the UK’s largest building society by assets, is expected to cut 500 jobs following the integration of its regional branches Dunfermline, Cheshire and Derbyshire building societies into its main operations.
The mutual has confirmed that it will close around half of the 91 regional branches; the branches are to lose their current brand names and become Nationwide outlets.
Nationwide has stated that, due to the integration, 85% of customers will now live within five miles of the expanded Nationwide branch network, compared to the current 70%.
Integration plans expect to be completed by the middle of 2015.
Cheshire and Derbyshire merged with Nationwide in 2008, and Dunfermline building society was taken over in 2009.
Nationwide hit by further IT failure
Nationwide unveils new flagship branch in London