Mortgage News
MAS staff cut by two thirds during year-long review
The Money Advice Service (MAS) has reduced its staff numbers by almost two thirds during a year-long transformation project that began in February 2012.
Staff numbers have been cut from 150 to 66 and the organisation has paid out £4m in redundancy payments.
The job cuts were made over the course of the last financial year.
A spokesperson for the organisation said: “We wanted to make sure that the MAS was fit for purpose and that we had the right skills and capabilities in place.
“We’re now a year on and we have got 66 permanent staff.”
Other changes made during the review include a website upgrade in July that saw the number of comparison tables doubled.
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Caroline Rookes will join the MAS as chief executive officer in February. She was previously director of private pensions for the Department for Work and Pensions (DWP) and will replace Tony Hobman.