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PPI claim: Banks expand workforce to deal with PPI

Major banks have had to increase their workforces to deal with claims on payment protection insurance (PPI).

This comes from a survey from Manpower of 2,100 companies. It found that the outlook for the jobs market was at the highest it had been since before the recession, due in part to increases in the financial sector to deal with the redress of mis-sold PPI.

PPI is the most complained about banking product in history and banks have had to set aside billions of pounds to deal with consumer claims.

Mark Cahill, of Manpower, pointed out that the amount of money set aside by banks is expected to double.

He said: “Within the last month alone we have seen big names like Barclays and Lloyds massively raise the amount of money set aside to deal with PPI claims.”

While this has created a rise in the jobs, which is expected to remain high as banks continue to redress PPI, it is uncertain whether these jobs will be sustainable in the future.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801554885-ADNFCR



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