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Bradford & Bingley to axe 370 jobs

Sep 25 2008

Struggling mortgage lender Bradford & Bingley is cutting 370 jobs in a crackdown on costs.

The bulk of the job losses will come with the closure of its mortgage processing centre in Borehamwood, Hertfordshire, which employs 300 people.

The move comes after B&B posted losses of £26.7 million in the first half of the year, as the buy-to-let specialist is buffeted by credit crunch losses and rising arrears.

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