Legal & General (L&G) is set to cut an extra 560 jobs, brining the total number of staff lost this year to more than 1,000.
The insurer this morning confirmed it is in talks with unions to make redundant 300 full time staff plus a further 260 contractors and temporary staff.
Earlier this year, the firm said it would be making 450 support staff redundant as part of cost-cutting measures.
It follows a raft of job cuts across the sector, with rival British insurer Aviva last month saying it would shed 1,390 permanent and temporary positions, while part-nationalised lenders Royal Bank of Scotland and Lloyds Banking Group announced 9,000 and 985 job cuts respectively.
L&G says it will try and keep redundancies to a minimum through redeployment, and pledged to offer employment support to those staff affected. Unions have opposed the plans.
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