VIENTO, formerly WRF Securities, has closed its Brisbane office and made redundant all the staff as part of the company's transition to focus solely on property funds management.
Viento said its transition is now complete and the company is now exclusively focused on property funds management.
As a result, staff at the company’s Brisbane office have been made redundant as all operations are moved to Melbourne.
Viento said staffing has been reduced to 12.
This new focus is expected to save the company around $3 million per annum.
Viento said it is now on track to rebuild the company and recover shareholder value after the difficulties over the past 18 months.
Australian Property Journal
