3,000 set to lose jobs in days after HIPs axe

Friday 21st May 2010
HIPs by number:

An estimated 3,000 people’s jobs in the HIP industry are immediately at risk, according to AHIPP director general Mike Ockenden, with up to 10,000 other jobs likely to be affected. Some, he said, will lose their homes and face financial ruin.

According to Grant Shapps, about £1bn worth of HIPs were produced between launch and yesterday’s scrapping.

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Added by I wonder where all that money has gone on 2010-05-21 11:18:05

3000 Hipers at £11/hour (ish) for 3 years means that £798,000,000 needs accounting for. The field staff might be in for a very tough ride but somehow one has to suspect that a smaller suit will not be necessary.
There was a small demonstration of resentment towards agents posted yesterday, maybe those that are facing the worse ought to look to the very top of the Spire and see if the Cockeral is still crowing

Added by Sybilla Rose on 2010-05-21 10:28:33

Though I agree that HIPS were a pain it is a shame if they go again the amount of people that will lose their jobs and unemployment going up again!!! We have just started to get sorted out

Added by Monkey Tennis on 2010-05-21 10:05:26

hIPS made no difference to the speed of transactions and created an unwelcome headache, Theres your feeedback.

Added by Nik Fleming on 2010-05-21 09:44:03

What's missing here is the following:
- How many homes were sold during this time?
- How does the sale-abort rate compare in this time period versus pre-HIP?

Voice of the industry, we can't hear you.

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