The lender is currently undergoing 'significant structural changes' as a result of the turbulence felt within the mortgage market, reviewing both its business model and organisational structure.
MD David Tweedy revealed that 65 of its 305 strong workforce were 'likely' to lose their jobs as the result of a 'significant reduction' in business volumes.
Further changes include the creation of a Lending Services department as well as a Proposition department to combine marketing, product development and e-commerce.
Tweedy said: “We initially took the stance that we would wait until the market stabilised before taking any action but unfortunately, owing to worsening market conditions, we are forced to re-assess the situation."
He added that redundancies had been kept to a minimum due to strict controls imposed on recruitment in 2007, lessing the impact compared to some of its competitors.
“I am personally saddened by the need to make people redundant but it is the right thing for us to do at this time to secure the future of the business and ensure that we are in a good position to react to any changes in the market when they occur.
“Platform remains a hugely ambitious organisation and its focus on delivering the Group Strategy remains the same. With the ongoing support of its parent Britannia, Platform continues to be fully committed to the UK intermediary mortgage market.”
Platform will now renew its focus on both packager partners and direct customers.
