Post Office to sack financial advisers

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The Post Office is to make its 73 branch-based mortgage advisers redundant as it attempts to wean itself off hundreds of millions of pounds a year of taxpayer subsidy and become self-sufficient.

The previously loss-making operator of 11,600 outlets said it would stop providing a personalised loans-advice service and instead appoint eight “customer relationship assistants” and two team leaders, who could be reached only online or on the phone.

The Post Office is the state-owned retail division of Royal Mail, which was left behind in the public sector when the nationwide letters and parcels delivery company was privatised in 2013.

The Post Office has begun receiving £370 million of taxpayer money to keep its head above water until 2021, on top of the £2 billion…