TUNBRIDGE Wells faces the loss of 240 jobs after a decision by HHG Life Services, formerly AMP and NPI, to pull out of the town.

The firm announced Monday afternoon it was moving operations to its Lynch Wood site in Peterborough.

The decision comes after the closure of NPI to new business in 2003. With all HHG's life companies now closed to new business, it wants to centralise and streamline its operations.

Ian Laughlin HHG Life Services managing director, said: "We regret the impact of this decision on our people and will be working to mitigate this as much as possible."

HHG has now started the 90-day collective consultation required with the recognised trade union, Amicus.

Tunbridge Wells has been the main operations centre for NPI, based around Calverley Road, although parts of the NPI business have already been transferred to Peterborough.

The consolidation will take place in phases, with completion due around mid-2004. The firm has stressed that NPI customers will not be affected by the move.

Tunbridge Wells MP Archie Norman (Con) said: "Although this has brought to an end the year long uncertainty over the Tunbridge Wells site, it is a particularly worrying time for the employees and their families.

"I have been in touch with HHG who assure me that they will be working with employees on an individual basis to find the best solution.

"I will be meeting with Mr Laughlin in due course to discuss exactly how they will be effecting the closure in the six month timescale."

Three years ago AMP switched some staff to Peterborough and various job culls have taken place since.

Tunbridge Wells has an unemployment rate of just one per cent and it is hoped it will be able to absorb the job losses following HHG's latest decision.