Moneysupermarket mulls job cuts

THE credit crunch could claim more jobs at the price comparison website Moneysupermarket.com.

The Chester-based business may cut up to 80 staff many of them from its mortgage and loan-broking operation which has seen a 10% slump in business.

The company has already cut 50 staff in the past year as it has seeks to adjust to the new economic climate.

In a statement the company said: “On March 10 we started a consultation process with staff which could result in up to 80 people leaving the business.

“The majority of roles at risk are in the group’s mortgage and secured loan broking operation, which has been hit by the decline in house prices and transactions.

“The group will be working with its employee forum to minimise the impact on staff over this difficult period.”

Last month Moneysupermarket said its pre-tax profits fell 9% to £48.4m and a one-off impairment charge left it with a post-tax loss of £59.1m.

Total revenue was up 10% to £178.8m but the money division, which handles mortgages and loans, saw revenue drop 10% to £68.3m.

Meanwhile, Lancashire flooring firm Interfloor has confirmed plans to cut 25 at its headquarters in Haslingden. A further 29 will go at its site in Scotland.

Interfloor, which specialises in carpet underlay, has blamed the downturn in consumer demand.