Sub prime loans company Cattles is to make 1000 people redundant as it attempts to weather the credit crunch. Cattles' Hull operation will close and most of the job losses will be made in the Welcome finance arm of the business.

The company has two call centres in Hull.

The credit crunch has made it very difficult for the company to borrow money.

Lending from Welcome would drop by 75% in 2009 compared to the previous year.

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