Suncorp has cut 20 staff from its super and investments division within the company's wealth management business unit, a Suncorp spokesperson has told InvestorDaily.
Those affected were performing back office administration services for the Suncorp-owned brand Asteron and were let go towards the end of January 2009.
"The recent impact of the global financial crisis has reduced activities in Suncorp Wealth Management's super and investments operations teams," the spokesperson said.
"This has prompted a review of our resourcing needs."
Those affected by the cuts were given the option to remain at the firm for three weeks to search for redeployment opportunities, or leave and search for employment opportunities externally.
The company could not confirm if there would be more redundancies.
"We can't promise that this will be the end of any changes in our business," the spokesperson said.
"The market uncertainty means that we have to be adaptable to the economic environment."
