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Alliance & Leicester expects 300 voluntary redundancies

Alliance & Leicester has announced a voluntary redundancy scheme today which could see between 200 to 300 employees leave the lender.

But the lender says that the option will only be available to certain “pockets” of the business such as back office areas and sales.

It says that no-one from its intermediary centre in Belfast will be allowed to apply for the scheme, stressing that it remains committed to the UK mortgage market especially through intermediaries.

Alliance & Leicester currently has a staff base of 8000.

A spokeswoman for the bank says that the scheme was announced internally this morning but that it does not have a specific timeframe for when the final decisions will be made.

On recent speculation that the lender is closing to new mortgage business, a spokeswoman for the bank stresses that it is most definitely still committed to the UK mortgage market.

“We’re still open for business; we’re not closed to the market. We want brokers to know that we’re still here and we will accept the right type of business.”

Director of mortgage sales and operations Raj Uppal says: “Alliance & Leicester is committed to the mortgage market and to working with intermediaries. However with the housing market expected to slow, we are expecting fewer new mortgages than in recent years.

“We are offering a limited scheme to people who work in some areas of our mortgage division and to some other back office areas of the bank. Staff at our Belfast operation who service our intermediary mortgage market will not be eligible to apply. In no way will the service we offer be compromised and our commitment is to provide an efficient service to intermediaries and this focus has not changed.”

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