Shock as dozens of jobs set to go at financial services company

Aug 6 2008 by David Jones, Liverpool Daily Post

A FINANCIAL services company near Chester says it may have to cut more than 50 jobs as a result of the credit crunch.

Moneysupermarket.com Group says it is nearing the end of a consultation process that may result in a reduction of approximately 54 jobs, predominantly in its Mortgage 2000 business.

The group, based on St David’s Business Park, Deeside, says a cut of that size would represent an 8% reduction in its workforce of around 675.

News of the cutback comes as a shock because moneysuper- market.com has been one of the star performers in the regional economy over the past few years.

But the group said that, in common with most other businesses that operate in the intermediary mortgage market, the tightening credit market has hit Mortgage 2000, the group business that specialises in providing intermediary mortgage services.

Stuart Glendinning, managing director of moneysupermarket.com, said: “We recognise this is a difficult time for everybody at moneysupermarket.com and we will support staff through this process.