Mortgage News
HML closes Lancashire office; 113 redundant
Skipton Building Society subsidiary HML has revealed it is to close its Padiham office in Lancashire by September, making 113 of the 271 staff redundant in order to cut costs.
The other 158 employees will be transferred to the company’s Skipton office, around 20 miles away in North Yorkshire.
Neil Warman, chief commercial and finance officer at HML, said: “Today’s announcement is part of our strategy to realise planned cost savings from our multi-million pound investment in IT over the last three years, and ensure the business is the right shape and size to take advantage of new market opportunities.
“The Padiham site is operating under capacity and we have spare capacity in our Skipton office. It makes sense for us to significantly reduce our fixed costs and get the best value out of our remaining sites.”
The transfer of work from Padiham to HML’s other offices, in Skipton, Glasgow and Londonderry, will take place between July and September this year, when the office will close.
All employees were informed today of the changed business structure and potential redundancies.
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