MGM Advantage to make 80 redundancies after Budget changes

Jenna Towler
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Annuity provider MGM Advantage has announced 80 redundancies as a result of the significant pension changes announced in the Budget.

The Worthing-based business said the job losses could include compulsory redundancies but it hoped the process could be managed through natural turnover and voluntary redundancies. It employs about 260 people in total. Simon Whitehead, current chief finance officer, will leave to focus on other interests outside the business. Simon Smith, currently corporate development director will take over the role. There is also a re-alignment of reporting roles into chief executive Chris Evans, it said. Evans said: "It is clear that the changes proposed in the recent Budget create many chal...

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