VM Group has cut 19 jobs as part of a restructuring exercise, despite posting strong growth in revenues and profits last year.
The company's operating revenues jumped 40 per cent to $14.8 billion, and net profits more than doubled to $823 million in 2024.
According to VM's Chief Financial Officer, Frederick Williams, the redundancies were necessary and aligned with the group's future business model.
CEO Courtney Campbell said the job cuts are part of a phased restructuring process and do not represent the full scope of changes to come.
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