Mortgage Choice cuts workforce
Mortgage Choice has cut its group office workforce by 7.6 per cent and restructured a number of departments following a reassessment of staffing by new chief executive Michael Russell and the executive team.
Five staff members were retrenched and one vacant role will not be replaced, according to a Mortgage Choice statement.
The cuts follow seven redundancies made late last year.
Russell said the restructure was the responsible move for the company to make.
“We are committed to sharpening up the company’s service proposition to our franchise network and our capability to better service customers while improving our ability to take advantage of opportunities that are presenting themselves.”
The estimated full-year impact of the changes in 2009-10 is a cost saving of approximately $997,000, the statement said.
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