Enterprise stated it had made four staff members redundant from its head office in North London, which it said was a relatively small percentage of its 125-strong workforce compared to the cuts made by other firms.
Enterprise has joined companies such as GMAC-RFC, Mortgages plc, Kensington Mortgages, edeus, and blackandwhite.co.uk that have all been forced to make significant staff cuts in an effort to minimise the impact of the credit crunch that began on 9 August.
Michael Clapper, group chief executive at Enterprise, said: “While Enterprise is extremely secure financially after the multi-million pound inward investment earlier this year, we would be foolish to ignore market conditions and carry unnecessary costs. Reluctant, but decisive action had to be taken, to help protect our long-term strategy.”
James Cotton, mortgage specialist at London & Country, commented: “Unfortunately, this is the real- life consequence of what is going on in the market. While we have seen increased interest rates and reduced criteria, it has now translated into job losses, which I’m sure no one wanted at all.”
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