Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a701168
Lighthouse puts 40 jobs at risk with plans to close Exeter office
by Jun Merrett on Sep 05, 2013 at 17:14
Lighthouse Group is looking to close down its Exeter office which could put around 40 jobs at risk.
The national advice group announced it had undertaken a strategic review and concluded it may close the Exeter office and make operational changes.
The proposal, which is subject to final board approval, recommends the work currently carried out from the group's back office operations centre in Exeter will be transferred to its Stockport and Woodingdean offices before the end of March 2014.
The company said before a decision is made it will conduct a collective consultation process with employee representatives and each affected employee will be individually consulted.
Lighthouse said it anticipated that the Exeter premises would be fully vacated by 31 March 2014 and the 'operational efficiency benefits' delivered from mid 2014.
Malcolm Streatfield, chief executive of Lighthouse, said: ‘This announcement comes as part of the group's ongoing work to rationalise and simplify its operational structure, as previously reported. With five locations nationwide, which have evolved as a result of the group's historic mergers and acquisitions activity, it is important for the board to assess the efficacy of its structure and, where appropriate, rationalise its operations.
‘The operational efficiencies that would result if the proposal was implemented would benefit the overall group. As a result of the group's growing client base, particularly through its strong partnerships with affinity groups, staff from the Exeter office who did wish to apply to relocate to other offices would be able to do so.’
News sponsored by:
Today's top headlines
More about this:
More from us
- Lighthouse picks Zurich as preferred platform
- Lighthouse ties up with Aviva for exclusive protection offering
- Lighthouse reports soaring losses and takes £3.9m network hit