Bradford & Bingley (B&B) has announced it will cut 370 jobs to streamline its operations in response to the mortgage downturn.
The firm’s mortgage processing centre in Borehamwood will bear the brunt of the job losses but B&B says mortgage advisers will be culled from all branches. The company's processing centre will be closed with the loss of 300 jobs, it has been confirmed, while the intermediary sales team will lose 20 members of staff . The bank had already responded to the shrinking mortgage market by reducing the number of branch-based mortgage advisers from 160 to 50 earlier this year. The remainder will now leave also. Consultations with staff and all voluntary and compulsory redundancies are due to be ...
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