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New CEO trims Mortgage Choice workforce

Staff Reporter 1 minute read

Listed broking group Mortgage Choice has announced a number of redundancies which it claims will reposition itself for robust growth and make significant cost savings.

The 7 per cent reduction to the Mortgage Choice workforce – including the retrenchment of five staff and a decision that one vacant role would not be replaced – is the result of a reassessment of staffing by new CEO Michael Russell.

“After much deliberation and careful consideration, the executive team and I agreed that this restructure was the responsible move to make for the company. It is one that re-aligns and refocuses our resources for robust growth,” Mr Russell said.

The estimated full year impact of the changes in 2009/10 would be a cost saving of approximately $997,000, the group said.

 

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