Cheque handling firm to cut 600 jobs and close seven sites

CHEQUE handler Intelligent Processing Solutions Ltd (iPSL) is set to close seven sites across the country – including one at Bootle on Merseyside – axing 600 jobs.

The union Unite described the move as “tragic”, after staff were informed iPSL would be reducing its operations to just two sites in Northampton and Milton Keynes, halving employee numbers.
 
Dominic Hook, Unite national officer said: “The announcement is tragic news for the workforce. This consolidation strategy is deeply disappointing and the impact will be felt widely.
 
“This proposal will leave a workforce of just more than 700 at iPSL which handles around 80 per cent of cheques issued in the UK each year.
 
“The tide of digitalisation across the financial services brings with it huge challenges as organisations have to adapt the way they work. The changing face of cheque processing, with new digital imaging, has brought considerable difficulties for this industry. Unite wants to now see iPSL make the necessary investment through new technology to secure as many jobs as is possible.
 
“This news will be a bitter blow for iPSL colleagues and Unite has pressed the company to provide the workforce with support and guidance with two training programmes and outplacement support to be offered to staff.”
 
The plans, which are yet to be signed off by the Board, are close sites at: Bootle, Bradford, Copley, Edinburgh Tweed House, Chelmsford, Clydebank and Camberley in 2018.

A statement from the company said: “iPSL remains committed to keeping our employees informed and in the interests of being open, honest and transparent, we have provided this further update at this early stage to give them as much time as possible to prepare for any proposed changes to our ways of working.”