RAM staff safe as Pearl wields axe

The bulk of the group’s Glasgow and Peterborough-based staff will either be moved to its Wythall office or be forced into compulsory redundancies. Unions fear up to 500 positions may be axed, but it is understood Pearl aims to limit cuts to 300. Employees at Glasgow-based Resolution Asset Management appear likely to avoid any job losses however. Late last year Pearl won the £4.98bn race for Resolution, fighting off interest from Standard Life and Friends Provident. As part of the deal, Pearl offloaded certain assets to Royal London. The Unite union labelled Pearl’s job cuts a “slap in ...