Nationwide Building Society is expected to axe 600 jobs following its takeover of Virgin Money, according to reports.

The £2.9bn deal completed in April this year and has resulted in some overlap of roles.

As a result the UK’s biggest building society is consulting with staff and unions over redundancies, The Guardian revealed.

The consultation involves the Nationwide Group Staff Union and Unite, which represents staff who transferred under the Virgin Money brand.

A Nationwide spokesperson says: “Nationwide is now the UK’s fastest-growing banking provider, continuing to attract more customers and expand into new areas such as business banking.

“As we integrate Virgin Money, we are making some modest changes in areas where activities overlap.

“However, we’re committed to retaining the talent and skills of our colleagues wherever we can.”

Last week Nationwide confirmed that it would no longer be using the Clydesdale Bank brand for new mortgage customers following the takeover of Virgin Money.