is set to make up to 10% of staff redundant following a company review. At the same time, key lender Permira Credit will become its majority shareholder as part of the restructure, we can reveal.
Staff have been informed of the plans internally in the past hour. We hear headcount will be reduced by around 8-10% — up to 35 of YMU’s 350 employees — and the redundancy process will begin in September. A number of agents had separately left over the summer, while an independent review of the business by AlixPartners was undertaken to assess routes to a firmer financial footing following a testing post-pandemic period.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: