Vertex axes 28 jobs from DB Mortgages account

Some 28 employees have been axed from Vertex’s DB Mortgages account – its second round of redundancies in just four months.

The latest job losses are a result of a one-month consultation process with 33 staff, which was completed on Monday.

The 28 employees worked in client servicing roles for DB Mortgages before being transferred to a Vertex account with Marks & Spencer during the Christmas period.

A spokeswoman for Vertex says: “Understandably, once the busy Christmas period had passed, there was no further work for this temporary team from the end of February.”

Vertex made its first round of redundancies on its DB Mortgages account in December, when it cut 38 from its regional underwriting, sales and marketing departments.

DB Mortgages blames a downturn in the mortgage market for its losses.