Praemium ramps up digitisation, cuts headcount

Praemium is ramping up its workforce digitisation by culling nearly 30% of its total number of employees who mainly work in information technology-related roles.

- Karren Vergara

The move comes off the back of the acquisition of Technotia Group for $7.5 million, which finalised on January 22.

Jobs in IT development, maintenance and infrastructure will be affected as a significant number of these duplicate roles will be reduced. The group has about 370 staff members based here and overseas. Praemium said it "will be undertaking a consultation process with Australian employees in affected roles" and once the restructure finalises it anticipates "to reduce headcount by around 15% and direct staff salaries by around $9 million."

This will affect about 50 full-time equivalent (FTE) staff based in Australia.