The Glendale Gateway Trust is restructuring its staffing – and will be losing one senior post.
The jobs of the Trust Director and the Asset Development Manager will both disappear, and a new post of Chief Executive will be created.
Frank Mansfield, chairman, said: “The decision has been taken not because of any immediate financial problem, but because the current economic and political climate is making it very difficult for us to take on significant new projects.
“Both staff and trustees recognised that we are currently overstaffed at a senior level, given we have no current major projects on the go. So we felt we should look at what staffing level we needed to run the trust efficiently and effectively over the next few years.
“We are actually one of the strongest development trusts in the region, financially speaking. With our income and our reserves we could keep going as we are for many years to come.
“We are also aware that we need to put more aside each year for long-term investment in, and maintenance of, our properties.
“Trustees unanimously agreed these issues needed to be faced, and sooner rather than later. We are very proud of our talented and dedicated staff and consulted them about restructuring at an early stage.”
Trustees agreed the restructuring proposals at our last board meeting and expect to make an announcement about the new Chief Executive in July.