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Platform to cut 65 jobs as it restructures business

Platform is to make 65 job cuts as it makes a move to restructure its business.

The lender currently has a headcount of 305 staff.

Platform says its proposed structural changes to the business include the creation of a Lending Services department consisting of a mortgage processing team and a service management function.

It says that its sales team will be restructured to better support its customers and a new proposition department will be created combining the functions of marketing, product development and ecommerce.

Platform says that all proposed structural changes are subject to a period of consultation with employee representatives.

Platform managing director David Tweedy says: “We initially took the stance that we would wait until the market stabilised before taking any action but unfortunately, owing to worsening market conditions, we are forced to re-assess the situation.

“We have been able to keep the number of job cuts to a minimum through strict controls on recruitment throughout 2007 and by utilising a new groupwide redeployment process. The impact is much less than we are seeing with most of our competitors but nonetheless, it is likely that up to 65 colleagues from a total headcount of 305 will lose their jobs.

“I am personally saddened by the need to make people redundant but it is the right thing for us to do at this time to secure the future of the business and ensure that we are in a good position to react to any changes in the market when they occur.

Tweedy adds: “Platform remains a hugely ambitious organisation and its focus on delivering the Group Strategy remains the same. With the ongoing support of its parent Britannia, Platform continues to be fully committed to the UK intermediary mortgage market.”

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