R&SA to cut another 3,100 UK jobs

Professional Adviser
clock

Royal & Sun Alliance plans to cut thousands of jobs worldwide over the next two years as part of its...

Royal & Sun Alliance plans to cut thousands of jobs worldwide over the next two years as part of its restructuring program that focuses on boosting outsourcing and disposing of non-performing assets. Acting chief executive Bob Gunn, standing in while the company looks for a successor to Bob Mendelsohn, announced the job cuts along with the company's third quarter results. 3,100 staff will go in the UK: 1,600 from the outsourcing of administrative staff previously attached to the now sold life business; 900 from the general business side; and a further 600 from the outsourcing ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •