In an email to advisers, chief executive John Ruddick reveals that Allison was made redundant in January along with a number of other staff due to deteroriating market conditions.
Ruddick says in the email that the redundancies at PTFS “have been necessary to safeguard its future but nonetheless they have been both difficult and unpleasant”.
Due to the seniority of his role, Allison has been working out his notice period with the network with responsibility for developing the regional support centres.
The firm says these duties are currently in the process of being re-assigned and internal responsibilities will be clarified shortly.
In the email Ruddick says: “It is with deep regret that I have to announce that PTFS have agreed terms with Mike Allison to put into effect his departure from PTFS after seven years of service.”