Tameside-based housing association group New Charter is to shed 15% of its 1,000-strong workforce to make way for cuts to rental income imposed by the Government, the organisation said.
A statement from New Charter said: “The Government require Housing Associations to reduce their rent by 1% per year for the next four years. Given the level of savings which have to be found, we need to lose up to 150 jobs out of our workforce of 1,000.
“In consultation with our Trades Unions and Employee Representatives we have introduced a voluntary redundancy scheme, encouraging those people who might choose to go before we are forced to introduce a compulsory element.”
George Osborne announced the cuts to housing association rents as part of the summer budget in July and further cuts are expected in the social housing sector in the forthcoming spending review to be set out on 25 November.
The New Charter job losses will be found primarily from New Charter Homes in Tameside and Gedling Homes in Nottingham.
New Charter Group owns and manages 19,500 homes and has a turnover of £100m.