Provident set to shed 80 jobs in Bradford

Peter Crook

Peter Crook

First published in News Bradford Telegraph and Argus: Photograph of the Author by , Business Reporter

Nearly 80 staff at the Bradford city centre head office of Provident Financial Group are facing the axe as the firm plans to cut a total of 340 jobs.

Staff in Provident’s consumer credit division, both at the Thornton Road head office and around the UK, were told of the planned cuts yesterday afternoon and will find out their fate during a 45-day consultation process.

In Bradford 78 positions are affected, with the remaining 262 possible redundancies among field-based managers and clerks across the UK and Northern Ireland. The cutbacks will leave around 2,500 staff in the home credit operation.

It is the second round of job cuts to hit the field workforce as, in its half-year update in July, Provident revealed it had cut 170 jobs at a cost of £4.5 million.

The latest move is in response to falling demand for the group’s ‘doorstep’ loans and shrinking customer numbers which saw home credit profits fall from £49.3 million to £36.1 million in the first half-year, a result which Provident described as being ‘markedly’ below 2013 plans.

Conversely, Provident’s non-standard credit card operation Vanquis Bank is booming and continues to recruit call centre staff and expects to have created 250 new roles this year.

Provident said the cuts followed a review of roles and responsibilities and the reduction in staff would better marry up resources with costs, the number of customers and sales.

The group said it was repositioning its consumer credit business. This included the launch of the online Satsuma Loans operation this month.

Provident chief executive Peter Crook said: “The economic environment continues to be difficult for our customers as their incomes remain under pressure. This has an impact on the performance of our home credit business and we have reluctantly taken the decision potentially to reduce the number of roles.”

Meanwhile, the Bradford branch of DVD rental firm Blockbuster, in Greengates, looks to have escaped the axe as administrators of the company announced details of store closures.

Comments (6)

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10:06am Wed 20 Nov 13

sorrow&anger says...

In the rest of the Country the economy is growing. In Bradford it's one redundancy after another; Barretts, Prospect, Provident on top of the 700 jobs lost at the Council. How much longer is this going to go on? It's City Hall's responsibility to regenerate Bradford. It is time they started taking that responsibility seriously.
In the rest of the Country the economy is growing. In Bradford it's one redundancy after another; Barretts, Prospect, Provident on top of the 700 jobs lost at the Council. How much longer is this going to go on? It's City Hall's responsibility to regenerate Bradford. It is time they started taking that responsibility seriously. sorrow&anger
  • Score: 0

12:28pm Wed 20 Nov 13

Avro says...

Don't worry, Westfield will have 2,500 jobs on offer if it ever gets built!

If a leading door-step lender is finding it tough going then Bradford really is in trouble!

What's up, Holmewood not meeting the debt repayment?
Don't worry, Westfield will have 2,500 jobs on offer if it ever gets built! If a leading door-step lender is finding it tough going then Bradford really is in trouble! What's up, Holmewood not meeting the debt repayment? Avro
  • Score: -1

1:02pm Wed 20 Nov 13

allinittogether says...

sorrow&anger wrote:
In the rest of the Country the economy is growing. In Bradford it's one redundancy after another; Barretts, Prospect, Provident on top of the 700 jobs lost at the Council. How much longer is this going to go on? It's City Hall's responsibility to regenerate Bradford. It is time they started taking that responsibility seriously.
So greedy financial private sector organisations cause a world wide slump, the Tory party imposes vicious spending cuts and it's Bradford councils job to pick up the pieces and regenerate?
[quote][p][bold]sorrow&anger[/bold] wrote: In the rest of the Country the economy is growing. In Bradford it's one redundancy after another; Barretts, Prospect, Provident on top of the 700 jobs lost at the Council. How much longer is this going to go on? It's City Hall's responsibility to regenerate Bradford. It is time they started taking that responsibility seriously.[/p][/quote]So greedy financial private sector organisations cause a world wide slump, the Tory party imposes vicious spending cuts and it's Bradford councils job to pick up the pieces and regenerate? allinittogether
  • Score: -5

1:03pm Wed 20 Nov 13

Rambo says...

allinittogether wrote:
sorrow&anger wrote:
In the rest of the Country the economy is growing. In Bradford it's one redundancy after another; Barretts, Prospect, Provident on top of the 700 jobs lost at the Council. How much longer is this going to go on? It's City Hall's responsibility to regenerate Bradford. It is time they started taking that responsibility seriously.
So greedy financial private sector organisations cause a world wide slump, the Tory party imposes vicious spending cuts and it's Bradford councils job to pick up the pieces and regenerate?
Bradford Council's failure to regenerate started years before the slump and Tory cuts.
[quote][p][bold]allinittogether[/bold] wrote: [quote][p][bold]sorrow&anger[/bold] wrote: In the rest of the Country the economy is growing. In Bradford it's one redundancy after another; Barretts, Prospect, Provident on top of the 700 jobs lost at the Council. How much longer is this going to go on? It's City Hall's responsibility to regenerate Bradford. It is time they started taking that responsibility seriously.[/p][/quote]So greedy financial private sector organisations cause a world wide slump, the Tory party imposes vicious spending cuts and it's Bradford councils job to pick up the pieces and regenerate?[/p][/quote]Bradford Council's failure to regenerate started years before the slump and Tory cuts. Rambo
  • Score: 4

2:40pm Wed 20 Nov 13

BaildonGuy says...

allinittogether wrote:
sorrow&anger wrote:
In the rest of the Country the economy is growing. In Bradford it's one redundancy after another; Barretts, Prospect, Provident on top of the 700 jobs lost at the Council. How much longer is this going to go on? It's City Hall's responsibility to regenerate Bradford. It is time they started taking that responsibility seriously.
So greedy financial private sector organisations cause a world wide slump, the Tory party imposes vicious spending cuts and it's Bradford councils job to pick up the pieces and regenerate?
I agree, it isn't fair. Life seldom is, especially under a Tory government.

If Bradford doesn't regenerate itself then nobody else will. We can either wallow in the gutter full of self-pity or do something about it. Unfortunately these days City Hall seems to have chosen the excuses and self-pity route.
[quote][p][bold]allinittogether[/bold] wrote: [quote][p][bold]sorrow&anger[/bold] wrote: In the rest of the Country the economy is growing. In Bradford it's one redundancy after another; Barretts, Prospect, Provident on top of the 700 jobs lost at the Council. How much longer is this going to go on? It's City Hall's responsibility to regenerate Bradford. It is time they started taking that responsibility seriously.[/p][/quote]So greedy financial private sector organisations cause a world wide slump, the Tory party imposes vicious spending cuts and it's Bradford councils job to pick up the pieces and regenerate?[/p][/quote]I agree, it isn't fair. Life seldom is, especially under a Tory government. If Bradford doesn't regenerate itself then nobody else will. We can either wallow in the gutter full of self-pity or do something about it. Unfortunately these days City Hall seems to have chosen the excuses and self-pity route. BaildonGuy
  • Score: 0

11:49pm Wed 20 Nov 13

idleone says...

Good news! The vile company with no ethics will hopefully go bust and lots if vulnerable people won't fall foul of their extortionate and questionable practices. No sympathy for them. Their staff will no doubt get other emoyment if they seek it.
Good news! The vile company with no ethics will hopefully go bust and lots if vulnerable people won't fall foul of their extortionate and questionable practices. No sympathy for them. Their staff will no doubt get other emoyment if they seek it. idleone
  • Score: -8

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