AMP cut about 11 per cent – 300 people – of its full-time equivalent staff last year to keep costs under control.
In February, chief executive Alexis George highlighted efforts “to further simplify and right-size our cost base” as she revealed the company’s full-year results to shareholders.
Citi analyst Nigel Pittaway predicted at the time that, while it had made good progress on its costs, AMP would not get its controllable costs below $700 million in the 2024 calendar year as targeted
“Although our conviction is increasing, we still do not back AMP to fully achieve its cost-savings targets,” he sa
https://www.copyright link/companies/financial-services/amp-quietly-begins-restructure-for-60m-digital-bank-project-20240416-p5fk58
Ann: AMP 2024 AGM - Chair address & CEO address, page-15
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