Business
AMP announces sweeping redundancies – The Australian Financial Review
The program will trigger redundancies of up to 20 per cent in the company’s AMP Capital asset management arm and the AMP Australia wealth management division.
“We will consider a range of measures and unfortunately this will lead to people impacts.”
One source inside AMP said the measures were aimed at securing workforce reductions as high as 20 per cent in some business units.
AMP shares closed 3 per cent lower on Wednesday.
“I recognise that the last few months have seen significant change for the AMP Capital teams. Many of you have expressed your feedback directly to me, and I thank you for this,” Mr De Ferrari said.
“I understand that the chan…
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