Jobs threat at St Helens building society

Yorkshire Building Society says it will close up to five branches in the North West
Yorkshire Building Society says it will close up to five branches in the North West

A number of jobs could be at risk in St Helens after the Yorkshire Building Society announced it was to close a number of branches.

The group - which has a branch in Church Street, St Helens - says an efficiency drive could see it axe 250 jobs.

Five branches are earmarked for close in the North West, although the company declined to say which centre were under-threat.

The group said it wanted to ensure it had a “more even spread of branches and agencies across the country”, with plans to close operations in areas where there is a “duplication” of its services.

The bulk of the job losses are expected to come from its office in Cheltenham, with 200 staff expected to be axed as work is transferred to Bradford and Peterborough as part of a phased closure over the next two years.

In East Anglia, where three branches are flagged for closure, around 10 jobs could be lost, though that number could rise if a further

two branches that are currently up for review are also shuttered.

A further 10 jobs may be lost in London, another five in the North West, while closures in Yorkshire may result in around 20 staff being made redundant.

If the proposals go ahead, around nine branches will be lost by March with a further three to five locations closed by May 2018, a spokeswoman for the group confirmed.

But alongside its branch closure plans, Yorkshire Building Society is looking to boost the number of so-called agencies that it runs across the country - which would see the same services offered in new locations.

Agency operations will see customers access Yorkshire services at small operations located in estate agency offices, solicitors or independent financial advisers.