100 Jobs may go at Sesame Bankhall
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Sesame Bankhall Group has re-vealed that it has initiated consultation talks with staff which could see as many as 100 employees leave the company.
A communication from the newly-merged group to staff states that the job losses come as a result of the restructure of the Sesame, PMS, and Bankhall businesses.
The consultation process began last week with meetings with staff representatives from Bankhall and Sesame.
In the document sent to staff informing them of the proposed cuts Ivan Martin, executive chairman of Sesame Bankhall, says: “Our proposals regrettably mean there could be up to 100 job losses but we expect the final number to be lower as a result of people transferring to new roles elsewhere in the business.”
Martin says the group wants to establish an efficient organisational structure that will allow it to be successful in the future.
But he adds that there is bound to be an element of job duplication when two large organisations are brought together.
As a result, the group plans to combine a number of centralised services that will be shared across the firm, while incorporating the Sesame mortgage helpdesk into the PMS operation and the Sesame Direct function into Bankhall.
Sesame Bankhall is also keen to put Bankhall on a firmer financial footing, as Martin adds that the company has been trading at a loss for some time.
Discussions concerning a merger between Skandia UK, parent of Bankhall and PMS, and Sesame were announced on June 30, with the deal finalised on October 16.
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