Wealth Management Software cuts staff

Wealth Management Software cuts staff

UK-based Wealth Management Software is to begin shedding staff in an effort to achieve one million pounds in annual cost savings.

Confronting market conditions which it describes as "challenging", the company has vowed to dismiss 'non-revenue' earning staff across the board.

Details of the cuts are sketchy - negotiations with staff are said to be ongoing - but it appears that WMS has taken the opportunity to downsize its finance department. This has involved the departure of incumbent finance director Ian Davidson and his replacement by Giles Trigg, who has worked for the company for four years as financial controller.

The West Midlands-based company recently reported a half-year profit before tax of £0.26 million following the sale of six licenses for its flagship Lisa product.

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