HML to cut over 100 jobs
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More than 100 jobs are to go at HML as part of a wide-ranging staff review and in light of difficult market conditions, the company has revealed.
Staff at the third party servicer, owned by Skipton Building Society, were informed of the move today which will affect 5% of the company’s total 2,000-strong workforce.
A 90-day consultation period with HML employees is due to start on March 31, with the roles affected to be identified by HML in April.
A spokeswoman for HML says: “We are a successful business but we need to act now to rightsize the company so that we can build the next generation of third party servicer.
“We would have expected natural attrition to occur in normal market conditions but these are not normal market conditions.”
HML currently has around £50bn of assets under management and is based in offices in Skipton, Padiham, Glasgow, Scarborough and Londonderry.
HML says it is the largest provider of outsourced mortgage administration in the UK.
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Readers' comments (4)
Anonymous | 30 Mar 2010 8:18 am
Will be the Scarborough office. Skipton have had this view from the start
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Anonymous | 30 Mar 2010 11:17 am
I wouldn't count on it...
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Anonymous | 30 Mar 2010 8:37 pm
The staff have been advised that it is from various different area's and that HML are currently about 300 staff over headcount.
Given that the company is spending £5 million on a new head office due to open this year-would it not have been wise to hold back the building considering they han't started building until after the economy took a nose dive!
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Anonymous | 31 Mar 2010 0:44 am
it will be a few from all sites i should guess. maybe call centre staff and admin....
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