HONG KONG: Jack Morton has reduced its head count from more than 60
staff last year to 17, just weeks before its managing director Scott
Schenker returns to the US.
Schenker said the redundancies were made because the company ceased its
annual report business.
He also denied rumours that he was quitting, saying he was returning to
the US in his previous capacity as vice-president by year-end. "I was
supposed to leave in July and this was extended. This was the
arrangement from the start," he said.
Schenker added that the company was forced to make the redundancies as a
result of the slowdown and last year's restructuring. According to
Schenker, a number of staff also left by choice last year.
"We decided to get out of the annual report business and several people
left because of that," he said.
