Intrum Justitia Proposes to Adjust Operational Capacity in UK Collection Business

European ARM firm Intrum Justitia has, as previously announced, carried out an extensive review of its operations in the UK, resulting in the conclusion that the Credit Management Services ("CMS") business would require substantial improvements and investments in order to stop the continuing losses.

Based on these findings, a review of all CMS contracts has been ongoing since the end of April 2009 with the aim of improving profitability in the CMS business. Having carefully analysed the outcome of these efforts, Intrum Justitia proposes to adjust the operational capacity of its CMS business in order to re-align it with the CMS client base going forward.

This means that the current numbers of roles required in Intrum Justitia’s CMS business is likely to reduce, effectively putting jobs in CMS at risk of redundancy. Intrum Justitia is therefore commencing a period of formal consultation with staff dealing with these likely changes.

Intrum Justitia is Europe’s leading Credit Management Services (CMS) group and offers services designed to measurably improve clients’ cash flows and long-term profitability. Intrum Justitia was founded in 1923, has 3,400 employees in 24 markets and revenues of approximately SEK 3.7 billion. Intrum Justitia AB is listed on Nasdaq OMX Stockholm since 2002. For further information, please visit www.intrum.com