Redundancy threatens staff as GE aims to restructure its operations
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A number of staff have been placed in consultation for redundancy at GE Money Home Lending.
The lender has put the IT and customer service divisions at its Watford office in consultation as it looks to simplify its operating structure.
A spokesman for GE says: “We continuously review our business to ensure we operate effectively in a challenging mortgage market.
“Following the successful migration of our operations to one IT platform in August, we have reviewed our Watford operations and propose to simplify our IT structure, transfer customer services to our Truro call centre and adjust the size of other functions to support a more simplified organisation.”
He adds: “We are in consultation with employees to discuss the details of the proposed changes and how they may be affected.”
GE will continue to operate from its Watford base which houses around 800 employees but says it cannot confirm how many staff will be affected by the changes.
The lender also says it is still committed to the intermediary mortgage market.
The spokesman adds: “GE is the only UK specialist lender to continue lending through the economic cycle and has updated its product offering nine times during 2010 and 2011, with these offers available to thousands of brokers.”
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