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Skills Council axes five staff

The Financial Services Skills Council is to lose one in seven of its workforce due to restructuring and a change in Government policy.

The FSSC, which provides leadership for training, education and development in the industry, is reducing staff numbers from 35 to 30.

It says the move results from a change in Government policy meaning that a skills planning project, looking at the future of the industry, has been delayed until next year.

A year into its operations, the FSSC also felt it was time to look at its business plan to see if savings could be made through restructuring.

It says the move will not affect any of its current work, such as its exam review to set up an industrywide single qualifications network, and other work on standards and accreditation. The FSSC is due to release a consultation document in the next few weeks about a review of securities and derivatives exams.

Spokeswoman Sue Martin says: “We have had to make a cut to staffing numbers due to a change in Government policy and restructuring of the organisation. It will not affect any of the work we are currently engaged in.”

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