SuperConcepts has stood down members of its technical services and sales and marketing teams following its recent sale from AMP to a new private equity-funded management team.
Selfmanagedsuper understands some of the outgoing staff finished with the business at the end of last week and the remainder will leave at the end of this week.
In response to inquiries by selfmanagedsuper regarding the changes, SuperConcepts stated: “In an effort to move away from an institutional cost base of the previous owners, we have made some changes. As we are moving through a consultation process, it is inappropriate to make comment at this time.”
At the time of the recent sale of SuperConcepts from AMP to the new management team backed by private equity firm Pemba Capital Partners, the company was reported to have around 500 employees who were transferred across from AMP as part of the sale, which was announced on 8 June.