Mortgage Choice flags restructure

Broker Mortgage Choice Ltd has today announced a number of changes to its senior management structure in a bid to reduce expenditure.

The company said individuals filling the roles of head of marketing, national corporate affairs manager, training manager and national recruitment manager will all leave the company with their roles redesigned and replaced at lower cost.

The company secretarial role will also be significantly reshaped.

"The company has always regarded cost management as a critical aspect of its operations and this removal of an effective layer of management is a further example of this," managing director Paul Lahiff said.

The estimated full year impact of the changes in 2009/10 is a cost saving of $1.2 million, and the estimated 2008/09 impact is $0.6 million, which incorporates one off costs involved in the restructure.