Norwich & Peterborough Building Society (N&P) will cut 36 jobs from its head office in a bid to reduce costs and overheads.
Employees were notified earlier this week and they are now working through their consultation period. The job losses will be made across all departments in the society and will include senior and junior roles.
Finance director Richard Wells will be the highest ranking staff member to leave. His responsibilities were absorbed into the new position of finance and risk director which the current risk director at N&P, Jeff Pritchard, will take on.
Alison Rolls, spokesperson for N&P, said: “The society is financially sound but the continued problems in the funding markets are affecting us. These conditions are showing no sign of letting up and taking costs out of the business has become unavoidable.”
