Login
ISCOVER
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.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
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.
Published: 17-09-08
Will other major brokerages and aggregators follow suit? Will the aggregation industry contract over the next 12 months? COMMENT HERE
Today's other news
- Barclays to acquire Lehman assets
- Federal Reserve makes billion dollar rescue loan for AIG
- Nationwide cracks 250 brokers milestone
- Connective chooses NextGen to support members’ e-lodgement transition
- October rate cut unlikely
- No change to US cash rate
- Insurer reports surge in broker cross selling
