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SIX HUNDRED workers are set to lose their jobs after a cheque processing company announced that it would close sites across the country.
Staff at Intelligent Processing Solutions Ltd (iPSL) were told yesterday that the firm would reduce its operations to just two sites, in Northampton and Milton Keynes, and almost halve the number of its employees.
General union Unite called the announcement “tragic news” which would have a massive effect on the public.
“This proposal will leave a workforce of just over 700 at iPSL, which handles around 80 per cent of cheques issued in the UK each year,” Unite officer Dominic Hook said.
The plans, which require board approval, will lead to sites in Bootle, Bradford, Copley, Edinburgh Tweed House, Chelmsford, Clydebank and Camberley close in 2018.
A company spokeswoman said changes to the cheque clearance system meant that fewer staff would be required.
“IPSL remains committed to keeping our employees informed and, in the interest 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,” she added.
