Tuesday, March 04, 2008

UK - Mortgage Processor cuts jobs

Alliance & Leicester is axing 300 jobs following fall-out from the worldwide credit crunch.

Staff at its Wigan and Leicester mortgage processing departments and its Bootle back-office have been offered voluntary redundancy.

The bank - which employs 8,000 - said staff will have until the end of March to apply, with the jobs being cut from May.

A&L blamed the reduction in loans it expects in 2008.

Last week, the bank revealed a 30 per cent fall in profits and said it will be retreating from the mortgage market and focusing on savings and its growing current account business.

mirror.co.uk

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