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London & Country to cut workforce

Mortgage broker London & Country is offering some staff voluntary redundancy as it looks to cut costs.

The national broker has 300 staff and has appeared on the Sunday Times’ Fast Track 100 on the list of fastest growing privately owned companies in the UK for the last two years.

But now it is looking to trim its 124-strong administration team.

Any non-sales staff wishing to take up the offer of redundancy will have until the end of next week to accept voluntary packages.

The brokerage is unable to give exact numbers as to how many jobs it will be shedding, but L&C mortgage adviser David Hollingworth says the move is necessary with a reduced mortgage market and a non-sales function at spare capacity.

He says: “This is the first point in a two-year credit crunch that we have had to use the ‘R’ word. We have weathered the storm at full capacity a lot longer than many of our rivals but we have cut costs as much as we can already so we need to look at reducing staff numbers.”

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