is set to make up to 9% 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 8-9% — up to 32 of YMU’s 350 employees — and the redundancy process will begin in September. This comes after an independent review of the business by AlixPartners was undertaken to assess routes to a firmer financial footing following a testing post-pandemic period.
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