Pink in consultation over redundancies

Pink Home Loans has confirmed that around 30 people are facing redundancy as part of a company restructuring programme.

40 people were placed in a consultation period last week, which has resulted in 29 to 30 job losses.

The move comes as Pink streamlines its current business model and moves away from traditional packaging.

The company is in the process of creating a technology system to efficiently manage the whole of the application process, which will in turn create 10 new jobs.

Barry Meeks, CEO of Pink Group, says: “As part of our restructure, and following on from the downturn in the market, we are looking to channel more resources into new technology, and into the network side of the business.

He adds: “It is regrettable for those people whose jobs are at risk, but the change has been driven by the new market dynamic.”