Premium funding staff under cloud as GE sharpens axe
GE Australia and NZ says it is too early to say if Pacific Premium Funding staff will be among 400 casualties of a major divisional merger.
The company is combining the GE Money and GE Commercial Finance businesses to improve future prospects. Pacific Premium Funding is a wholly owned subsidiary of GE Commercial Finance.
Australia and NZ CEO Steve Sargent says 400 staff will depart during the year as GE eliminates job duplication. Some 335 positions have already been dropped since October.
GE Money Corporate Affairs Manager Geoff Lynch told insuranceNEWS.com.au the company should know “around the end of March” where redundancies will be made.
“We’re yet to work through the detail of where [job cuts] will come from,” he said.
In October a company spokesman said the first round of job cuts would not affect the premium funding business.
The company is combining the GE Money and GE Commercial Finance businesses to improve future prospects. Pacific Premium Funding is a wholly owned subsidiary of GE Commercial Finance.
Australia and NZ CEO Steve Sargent says 400 staff will depart during the year as GE eliminates job duplication. Some 335 positions have already been dropped since October.
GE Money Corporate Affairs Manager Geoff Lynch told insuranceNEWS.com.au the company should know “around the end of March” where redundancies will be made.
“We’re yet to work through the detail of where [job cuts] will come from,” he said.
In October a company spokesman said the first round of job cuts would not affect the premium funding business.