Wilson HTM Investment Group yesterday made an unspecified number of employees redundant with immediate effect, victims of “challenging market conditions”.
Managing director Garry Lowrey announced the front and back-office redundancies in a memorandum issued to all staff at the Brisbane-headquartered asset manager and dealer group without specifying the number or types of positions affected.
Lowrey said only that “some roles in both the front and back-office have today (yesterday) been made redundant, and that further redundancies may be necessary in future”.
“These redundancies and any future actions that may be required are necessary to ensure that we continue to operate a sound business able to meet the needs of our clients and the expectations of shareholders.” In “addition to the staff reductions”, he said, “actions are also being taken to further reduce costs in a number of areas”.
The group had “sought to mitigate the scale of the redundancies by identifying opportunities for redeployment or variations to work practices”, he added.
