Hundreds more jobs set to go at the Land Registry
According to The Times, the Land Registry is to axe a further 800 jobs, on top of the 1,500 job losses it announced last October.
The Registry, which has 20 offices across the country and covers England and Wales and records and guarantees the ownership of domestic and commercial property, said staff would fall further to 4,200 in the next four years through voluntary redundancies
The housing market downturn is partly to blame for the cuts, which in turn, has resulted in lower property transaction fees.
Last August, the Land Registry said the property market slump has resulted in its “workload and income having fallen off a cliff”.
Income from registration fees collapsed from £482,944 in 2007/2008 to £308,050 in 2008/2009.
However, commenting on today’s announcement, the Registry said the cuts could have been worse since it now plans to close fewer regional offices and offer more opportunities for staff to be redeployed both within and outside the department.
In October, the group said it intended to close five regional offices but sites in Peterborough and Croydon will now remain open.
Marco Pierleoni, chief land registrar and chief executive, said: “We have listened to the views expressed during our consultation. The aim of the plans announced today is to bring certainty and financial stability as quickly as possible and to secure the future of Land Registry in these difficult times.”