Update: Charles Stanley restructure will 'almost certainly' lead to more job cuts

Following announcement of restructuring

The major restructure announced by Charles Stanley earlier this year is likely to lead to further job losses as the company strives to achieve £4.5m of cost synergies from the project, according to its CEO.

Speaking to Investment Week, Charles Stanley CEO Paul Abberley said "productivity enhancing programmes will almost inevitably lead to changes in headcount," which would "almost certainly" mean further elimination of job roles. "It is quite likely that as we grow the productivity of the firm there will be reductions in headcount, but we don't have a headcount budget," the CEO said. The restructure, which is expected to cost the business £9.5m, is set to lead to future annualised benefits of £4.5m, the group revealed in its six-month results to end of September, published this morning (...