Chesterton to slash £7m off cost base
Chesterton Humberts expects to slash £7m off its cost base following an internal review.
Speaking exclusively to The Negotiator, Robert Bartlett (pictured), the group's chief executive, says that he expects the cuts to be made by the end of the year through the renegotiation of supplier contracts and an overhaul of a range of services across both Chesterton and the recently merged Humberts business, such as IT platforms and phone lines.
The overhaul of Chesterton's car fleet, as exclusively revealed by The Negotiator on October 22, will account for around £1m of the overall savings.
Bartlett has also appointed an external consultant to review the group's pay structures.
He says: "He will look at bringing together the pay structures of across the two businesses."
But he insists: "It's not being done as a cost-saving exercise, more as a way to create consistent platforms across the group."
Bartlett says he expects the new pay structure to combine basic salary with a performance-related bonus.
Separately, the group has rebranded its Abu Dhabi office as Chesterton.
The branch, which is being run by five staff, is expected to be one of a number of branches the group opens in the Middle East.