Business Services Industry
Suncorp employees in dark about job losses.
Australasian Business Intelligence, March, 2007
Byline: Marc Moncrief
Mar 07, 2007 (The Age - ABIX via COMTEX) -- Australian-listed Suncorp-Metway's takeover of Promina Group has left many employees with an uncertain future. Suncorp CEO John Mulcahy has indicated that the merged group will seek to save $A225m per annum by targeting services that are duplicated. However, he has given no indication of the number of potential job cuts that could be made, although he says the group will aim to reduce staff numbers through natural attrition. The $A8bn merger has been approved by Promina shareholders, and must now receive court approval.
Publication Date: 8 March 2007
SUNCORP-METWAY LIMITED - ASX SUN
PROMINA GROUP LIMITED - ASX PMN
FINANCE SECTOR UNION
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