Why this laid-off CFO won’t be selling his investment property

Why this laid-off CFO won’t be selling his investment property
Melbourne-based Andrew Stephens is one of the most senior figures in the tourism and hospitality industry to have lost his job in the depths of the COVID-19 crisis.As the former chief financial officer of global hospitality company Delaware North, Mr Stephens is now looking for a new job with his old role potentially being moved…

Melbourne-based mostly Andrew Stephens is one amongst potentially the most senior figures in the tourism and hospitality alternate to have lost his job in the depths of the COVID-19 crisis.

As the dilapidated chief financial officer of world hospitality company Delaware North, Mr Stephens is now procuring for a brand new job alongside with his worn characteristic doubtlessly being moved offshore.

Andrew Stephens, the dilapidated CFO of lodges neighborhood Delaware North, is procuring for a brand new job after shedding his in July.  Wayne Taylor

“The feeling is extremely great that I'm going to must retain out and wait, in particular in Victoria,” Mr Stephens talked about. “It's admire somebody has taken a deep breath and we are all ready to explore what’s going to occur – whether or no longer they bustle out of breath or they originate up the economic system all all over again. It's all very no longer easy.”

Being an educated in mergers and acquisitions, Mr Stephens knows that the consolidation in the field is quiet to reach and that can additionally mean a long keep up for a brand new job.

For the time being he’s no longer too concerned and has ample of a financial buffer to prevent him from needing to promote about a of his investment properties.

Melbourne-based mostly Andrew Stephens is one amongst potentially the most senior figures in the tourism and hospitality alternate to have lost his job in the depths of the COVID-19 crisis.

As the dilapidated chief financial officer of world hospitality company Delaware North, Mr Stephens is now procuring for a brand new job alongside with his worn characteristic doubtlessly being moved offshore.

Andrew Stephens, the dilapidated CFO of lodges neighborhood Delaware North, is procuring for a brand new job after shedding his in July.  Wayne Taylor

“The feeling is extremely great that I'm going to must retain out and wait, in particular in Victoria,” Mr Stephens talked about. “It's admire somebody has taken a deep breath and we are all ready to explore what’s going to occur – whether or no longer they bustle out of breath or they originate up the economic system all all over again. It's all very no longer easy.”

Being an educated in mergers and acquisitions, Mr Stephens knows that the consolidation in the field is quiet to reach and that can additionally mean a long keep up for a brand new job.

For the time being he’s no longer too concerned and has ample of a financial buffer to prevent him from needing to promote about a of his investment properties.

“I even have some investment properties, but I even have low gearing and I'm ready to service the loans in pronounce that would possibly possibly be ravishing for the foreseeable future,” he talked about.

“I quiet will need some security after that but I'm no longer in the embers but.”

Even as this would possibly possibly additionally be a long slog for quite loads of contributors in Melbourne procuring for work, there would possibly be additionally a sense that the alternatives will reach lend a hand quick.

— Andrew Stephens

Despite the devastated economic system, Westpac issued a file on Thursday showing Melbourne home costs would take 12 per cent between 2021 and 2023.

“I am extra attentive to what I am doing with my money, but clearly I'm no longer travelling and I'm no longer animated or eating out great.”

Mr Stephens, 52, has employed an executive coach to lend a hand tighten his resume and LinkedIn profiles.

His recruitment coach, Moir Community's Stephen Moir, is optimistic that the job market in Victoria can kick lend a hand sooner than many would possibly demand.

“Even as this would possibly possibly additionally be a long slog for quite loads of contributors in Melbourne procuring for work, there would possibly be additionally a sense that the alternatives will reach lend a hand quick,” Mr Moir talked about.

Commercial

“I am attentive to rather a series of mid to senior roles that are attempting to be recruited over the upcoming months. I am additionally listening to this from many others I voice to.

After Victoria lost 42,000 jobs final month, a sturdy rebound is a gargantuan call.

It is one Treasurer Josh Frydenberg, a Victorian, additionally wants to explore.

“What we if truth be told would like to prevent is the scarring stop that economists employ recurrently in terms of eventualities admire this COVID-brought on recession,” Mr Frydenberg talked about on Thursday.

“We want to prevent the difficulty where other folks keep unemployed for longer than they must, and there's many solutions to get other folks lend a hand to work.”

Subsequent

View Also:  Former AMP boss 'gutted at state of company'
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like
Qantas mulls move from Sydney headquarters
Read More

Qantas mulls move from Sydney headquarters

Qantas is considering shifting its Sydney headquarters interstate among a national property shake-up, sending state leaders on a scramble about losing or winning local jobs.The review from Qantas of its $40 million annual spending on leased office space marks the latest cost-cutting move from pandemic-afflicted airlines.The airline has shed close to a third of its…