Allco staff cut
Money Management understands a further 50 staff were ejected from Allco Finance Group on Friday.
Money Management’s calls to confirm the reports were unreturned at the time of publishing.
There is also speculation that these employees may be left high and dry due to an employment technicality. Allco Finance Group Limited is a listed entity, while Allco Finance Group Pty Ltd is a wholly owned subsidiary of the former. Media reports in January warned that around 50 staff owned by the subsidiary company would forego entitlements if made redundant, as they are not technically employed by the parent company.
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