The company has sited lower growth rates in 2008 as the catalyst for this cull.
All edeus staff have now been advised of this decision and the the company will now be entering a 30 day employee consultation period with all affected individuals.
edeus has also said that its use of technology gives it a business advantage which allows it to scale up or scale down quickly to reflect market conditions.
Michael Bolton CEO of edeus said: "We are acting to ensure that edeus retains its position of strength, with a team in place which is able to take immediate advantage of any opportunities when stability returns to the market. Whilst we continue to operate in volatile market conditions, responsible and prudent lending will remain our priority, fully utilising our pricing to risk skills, generating good quality assets and continuing our successful loan trading programme into the secondary markets."
John Malone, MD of PMS added: "I’m very sorry to hear of the redundancies at edeus; regrettably, however, all businesses will have to reforecast their volumes for 2008 and re-cut their cloth accordingly. This is a sensible and prudent course of action"
