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Mortgage Choice cuts costs and senior management

Staff Reporter 2 minute read

In a bid to reduce its expense base and refocus management resources on direct support for its franchise networks, Mortgage Choice has cut four senior management positions.

The management restructuring will save the brokerage an estimated $1.2 million in the 2009/10 financial year and around $0.6 million for the current financial year.

In an announcement to the ASX yesterday, the franchise brokerage said that the head of marketing, national corporate affairs manager, training manager and national recruitment manager will leave the company.

These positions will remain in the business but will be filled at a lower cost. The company secretary role will also be ‘significantly reshaped’.

“The company has always regarded cost management as a critical aspect of its operations and this removal as an effective layer of management is a further example of this,” said managing director, Paul Lahiff.

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Published: 17-09-08

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