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West Yorkshire: Axe threat to 500 more finance jobs
The embattled West Yorkshire owner of Welcome Financial Services has warned that another 500 jobs are at risk as it continues its battle for survival.
Batley-based Cattles, which is labouring under debts of 2.4bn and has been hit by accounting irregularities, plans to close 30 of its 180 Welcome branches and reduce the number of its sales and support teams.
Cattles said the proposals - in response to reduced levels of lending - meant 510 workers were given notice on Wednesday that they are at risk of redundancy.
It has already closed its Welcome Car Finance car loans business and axed more than 1,000 jobs, including through the closure of an office in Hull.
The company said it remains in negotiations with key creditors about a deal that would give it breathing space on the repayment of its debt.
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Weather for Leeds
Wednesday 23 May 2012
Today
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Temperature: 10 C to 23 C
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