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Homeserve to axe 200 as sales rap lingers
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08 February 2012
Some 200 jobs are to be axed at Homeserve after the home maintenance group and insurer admitted it is still suffering the repercussions of its substandard sales practices.
Homeserve suspended all telesales in October to review its scripts and mailshots following a critical review of practices from auditors Deloitte.
The firm today admitted it still hadn't restarted all its marketing activity. As a result, customer numbers in the UK are expected to fall 8% this year.
Renewal revenues in 2013 will also be down as much as £10 million. A business restructuring will cost it £20 million this year, double its estimate in November. The shares fell 8%, or 23.2p, to 251.8p.
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