Saturday, 29 November 2014

Genesis Housing merges subsidiaries

Genesis has completed the collapse of its group structure.

Genesis Housing Group, which owns or manages 40,000 homes has merged its subsidiaries – PCHA, Pathmeads and Springboard - into the parent body to become one housing association.

Inside Housing reported last year that the group was planning to amalgamate the subsidiaries and reduce the number of local authorities it provides homes to.

A spokesperson said the move would reduce duplication and simplify decision-making. The new organisation will be known as Genesis Housing Association.

Neil Hadden, chief executive of Genesis, said: ‘The creation of Genesis Housing Association allows us to make quicker decisions that will see us deliver a better service.

‘This new structure puts us in a positive place for the future and I’m greatly optimistic that these changes will help Genesis thrive.”

A total of 55 redundancies have been made, a spokesperson said. He would not reveal how much money the restructure has saved.

Readers' comments (4)

  • Neil Hadden CO if I was one of your tenant's I like to know how much is being saved.

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  • Arthur Brown

    A few more loyal employees on the scrapheap then! 55 families without an income and suddenly thrown into uncertainty.

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  • And now Genesis has just increased my friend's service charges for 2012 by almost fifty percent! That's over five hundred pounds more a year, when so few of us earn a banker's massive salary!

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  • Rick Campbell

    Sorry to be boring and repetitious --- I am not convinced that bigger is better.

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