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12 July 2020

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01/11/2007 - Redundancies at Kensington

Kensington has announced that, in light of credit market conditions, it is to streamline its operations by reducing headcount and increasing its level of automation in preparation for market recovery.

The restructuring will result in around 65 redundancies from functions affected by lower business volumes and changes to the companys operating model.

In May this year, Kensington announced it was investing in technology to increase its level of automation, to develop a fitter and leaner operating model and to improve its online proposition for all UK mortgage distributors.

Alison Hutchinson, chief executive officer of Kensington said:

"We must ensure that the company has a business model that is robust until the market returns and which can thrive in the future, when we think the market will be quite different from the way it looks today.

"We have spoken to our distribution partners about these changes and we are moving quickly and decisively to shape a business that is ready for market recovery and able to deliver growth from a much wider platform."