Cuts in pension staff will be "key" to a restructuring at Legal & General (L&G), the insurer says.
Yesterday, it was revealed L&G had started a consultation process involving a nationwide review of the company's support functions which would lead to between 250 and 450 redundancies.
L&G says pensions would be a key area of its "drive for efficiencies".
"In a framework in which we are trying to drive for efficiencies, pensions is one of our key challenges," a spokesperson says. "We would be looking to be able to provide a more streamlined high quality service levels to our pensions customers and clients."
In an internal email sent to employees on 23 February 2008 the company explained it was taking a review in response to changing business conditions.
The spokesperson says the following announcement would take place in April and that letters to employees giving 'notice of potential redundancy" would also be sent in April.
A restructuring of L&G's independent financial advisory (IFA) sales force was announced at the beginning of February.IFAonline
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More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, research from Legal & General (L&G) has found.
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