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Halifax cutbacks estate agency arm


Halifax is to sell off 224 of its 618 estate agency offices around the country.


Initially Halifax will close estate agency branches in towns where there is both a banking office and an estate agency.


The current branding of Halifax Property Services will disappear with all offices branded under the corporate Halifax name.


The decision could put up to 1,500 full and part time jobs at risk. The slimming down process is expected to take a maximum of six months.


At the end of the process the bank estimates it will have an equivalent full time workforce of 2,600 down from the present full time complement of 3,600.


The move is part of a corporate strategy focusing on the long term future of the bank. It wants to be less reliant on the housing market.

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