MAS to slash 60 roles as CEO enjoys quarter million pound pay

MAS

DISGUSTING!!!!

Posted by: Darren

Unbelievable

60 people who probably left previous jobs to work for this outfit and are now unemployed. 8 month and its in trouble already. How much did it cost to set up? How much is it going to cost in redundancy money? Total shambles. Whose paying for it?

Posted by: Swanny

Shambles

Well, what a surprise. The scheme is a box ticking exercise that has cost a great deal of money and will benefit very few. But we all knew that was going to be the case anyway. Visit the website and you will immediately see why this will not be the last of the culling....

Posted by: Simon Booth

MAS slash jobs

UNBELIEVABLE ABSOLUTELY STUNNING, when are we going to stop this madness talk about lions led by donkeys

Posted by: tom oliver

MAS to the rescue?

I suppose if Hobman carries on at this rate he'll be the only one working there, single handedly advising the financial great unwashed. But at least it's independent, advice and best of all it's free! Not a particularly encouraging start! Why is it that the QUANGOs never deliver but seem to cost a fortune?

Posted by: duncan carter

Definitions

A Money Advice worker dispenses advices in the same way that somebody who tosses things out is a tosser. More pertinently, why is MAS continuing to advertise vacancies when they are offloading the staff they already have. Many existing staff have been transferred from the FSA and therefore MAS is liable for the sizeable redundancy payments...ore, more to the point, we are.

Posted by: Alan Lakey

A real disgrace.

This is a ‘service’ we have to pay for – not consulted, unbidden. There have been revolutions for less. But to now find out that it has been constructed for little piggy’s to go to market and stick their snouts in a very rich trough is truly sickening. On what basis was this remuneration agreed? Who sanctioned it? It hardly seems difficult or arduous work. I would have thought that any half competent person in an advice role could manage this in a 4 day week and be over the moon with a salary of less than half this amount. It is not beyond the bounds of possibility that this rather poorly thought out initiative will eventually just run into the sand. With the resultant waste of (our) money. They should care – it costs them nothing. Who is responsible? Who is answerable? And will they be brought to account? Or is this just another example of certain sectors of our society working within a bubble? I see the press a braying for heads to roll with regard to the RBS debacle. What would they make of this (and other examples)?

Posted by: Harry Katz

How Many More?

How many more examples of la la land thinking do we need before someone with a tiny bit of common sense puts their foot on the brakes of the ideas factory in charge of finance and financial services? Someone needs to say "hang on, just what do we want to achieve?" And not just some management jargon made up fad, but genuine business thinking. MAS has to clash with the CAB when it comes to debt advice. CAB is struggling for cash and has been largely accepted as a worthwhile organisation that has to have charitable status to survive. Who on earth is joining the dots here? MAS could be a good idea if it was SIMPLE and stuck to a core service and was cheap to run. I suspect someone has seen how fat the FSA cats get and is pushing the notion that bigger and more sophisticated is better, despite the skills base and end customer need. I saw a MAS representative talk at a roadshow and it was clear there is no real core vision. Another pointless cost to us.

Posted by: Stuart

MAS

Next big idea, recruit a 1000 people to go round schools and teach 10-year olds how to fill in a cheque. No matter they don't know what a bank account is because cheques won't exist by the time the kiddies have a bank account. This should only cost about £50million and it will be at least as useful as MAS is proving to be. Please make me the CEO of the new Kiddie Cheque Traing Authority (that's KCTA)- I have a 'B' grade GCSE Economics and only care about getting my snout in a trough somewhere so I should be a front runner for the job.

Posted by: Bill Wells

if, perhaps, maybe

Hobman says "If we get it right we will make a huge difference to millions of peoples lives so we hope we can be value for money." So let's operate his pay on that basis. If he gets it right we will pay him a decent basic wage, say £50,000. Then "if they make a huge difference to millions of people" we'll le thim have another say £100,000. Lastly, if he can show that paying him another £100,000 would be good value for money then we will let him have it, but let's make sure we pay him only on results, not on 'ifs'.

Posted by: James Brooke