Money Advice Service to Cut Jobs to Save on Costs

Treasury-commissioned review of Money Advice Service (MAS) reveals the group are to drastically cut costs and nearly two thirds of staff.
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The Telegraph has today reported on an independent review of the Money Advice Service, revealing recommended staff cuts of full-time staff from 130 to 50, reducing the MAS budget from £81.1 million to between £50 – £65 million.

The report, by Christine Farnish, the former head of the National Association of Pension Funds, was picked up by The Telegraph who have recited that the biggest cuts should be felt by the money advice arm of the organisation, sparing the division that focuses on debt management.