Bradford-based lender Provident Financial is looking to cut 170 jobs in its home credit business to reduce costs in the face of continuing tough market conditions. One job will go in Bradford.
The company has launched consultations with staff about the cuts, which will mainly affect front-line development managers who supervise its doorstep collection agents, along with some associated management.
Peter Crook, chief executive, said: “I regret that we have had to make this announcement. The economy continues to be depressed and this is affecting the performance of our home credit business. The changes we are proposing will reduce costs and better align our staff capacity with the current requirements of the business.”
The move is in contrast to the Vanquis Bank credit card side of Provident’s business where the group continues to recruit staff at its Bradford call centre.
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