AIOFP to manage Holden's redundancy program
The Association of Independently-Owned Financial Planners (AIOFP) has been appointed to manage Holden’s redundancy program at its Elizabeth plant in Adelaide.
Career and financial services counselling will be delivered from mid-October to between 300 and 500 Holden personnel who accept a redundancy package.
The AIOFP is currently seeking applications from among its 120-member advice firms and 1,800-member planners to provide the services.
Holden personnel will need an adviser to confirm they have received advice before they can get a redundancy package, according to AIOFP executive director Peter Johnston.
“The union and the company are worried that employees may make the wrong financial and career decisions, and our role will be to assess their position and make the most appropriate recommendations,” he said.
There has “not been any shortage” of Holden employees wanting to exit under the hardship provision, he added.
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