Money Partners to axe jobs

Money Partners is locked in negotiations over the number of jobs it will have to axe due to harsh market conditions.

As Mortgage Strategy exclusively revealed last week, the lender, which was acquired by Goldman Sachs from Kensington Group in January, has informed staff that a number of jobs will be placed under review in the next few days.

At the time of writing, Bob Sturges, director of communications at Money Partners, said it hadn’t been decided how many jobs are likely to be axed or from which departments.

He says: “This is caused by market conditions, pure and simple.”

Meanwhile, around 10 staff at Beacon Homeloans face redundancy.

As Mortgage Strategy has exclusively revealed, the jobs have been subject to consultation since last Monday.

Jeremy Russ, head of marketing and compliance at Beacon Homeloans, says the roles span the lender’s functions and range in seniority.

He adds: “We haven’t put an expiry date on the consultation process. To be fair to individuals, it is open ended so they can take as much time as they like to consider their options.”

He insists no further job cuts are planned.

Meanwhile, Enterprise Group has made three redundancies.

Kevin Paterson, group commercial and marketing director at the group, says that one redundancy was the result of a restructure of the group’s e-commerce department, while the other two were made in its accounts and completions departments due to reduced business volumes.

Enterprise is in the middle of recruiting five software developers following the departure of e-commerce director Gordon Steyn.

Steyn says he quit last month having completed the task of upgrading the group’s EDGEV2 system, which went live in December.

He says: “It was a sensible time to leave and an amicable departure.”

Steyn, who joined Enterprise from Thinc Group in 2006, says he plans to remain in the financial services industry.