AMP Capital Investors cuts 40 jobs
AMP Group has announced further redundancies, with the loss of around 40 roles across the AMP Capital Investors (AMP) division.
AMP spokesperson Lara Evans said approximately 40 roles have been impacted.
The cuts were a result of cost cutting while also realigning some of the business team, Evans said.
“Given current market conditions, we need to insure we remain resilient, ready to act on opportunities as they emerge and prudent in managing costs,” she said.
According to Evans, the cuts have been made to a variety of roles across the division.
However, the business was looking to redeploy many of those affected, she said.
“Every effort will be made to redeploy those affected into other areas of the business where AMP Capital Investors is looking to strengthen capability.”
The cuts, made last month, follow 300 job losses nationally across the AMP Group in the final quarter of last year, which included 200 positions across the AMP Financial Services business.
Evans said AMP had no plans to announce further cutbacks in the near future, however, it “always needs to be ready to respond to market conditions”.
AMP Capital Investors has approximately 1,000 employees internationally.
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
