A statement from the network said: "Our mortgage business will be a major focus for us in the coming years and protection will play a key role in our strategy in that area.
"Combining some of the support functions is a natural progression for the business and will bring significant benefits to Openwork as we move towards profitability. The restructure has impacted a small number of roles where overlap would be inevitable and regrettably this has led to Karen’s departure. We wish her all the best for the future."
Hedges was with Openwork for 33 years.
Openwork recorded pre-tax losses of £8.5m in 2010 on top of a £5.6m loss in 200 while in September last year the network reported total revenues in 2010 of £182m, marginally down from the £182.5m in 2009.
Openwork's latest adviser numbers fell from 2,485 to 2,060.
