A call centre in Londonderry has confirmed 38 jobs at its Springtown base are to be lost.
There are to be 22 voluntary and 16 compulsory redundancies which will bring the workforce at the financial services company down to 333.
The company said the takeover of one of its client companies by a firm able to perform the work contracted out to HML forced the redundancies.
"We've worked hard to minimise the impact on staff by offering voluntary redundancies, but obviously the situation is very regrettable," spokeswoman Joanne Gill said.
"However, we have identified a gap in the money savings market and we are hopeful there may be good news later in the year regarding expansion into new markets."
The first of the redundancies will come into effect on April 13 and the drive will be complete by the end of May.
Foyle MP Mark Durkan expressed his regret at the development.
He said: "This news will come as a huge blow to those workers and their families who are affected by these job losses.
"It's important that all relevant agencies become involved in order to ensure the workers are made aware of all their rights and entitlements at what will be a time of great anxiety and uncertainty."
HML or Home Loan Management - collects money due on around £50m worth of British mortgages.
It's a subsidiary of Yorkshire-based Skipton Building Society.
There were rumours in 2009 that it was up for sale.
In July 2010 around 45 job losses were announced at the Derry centre.