St James’s Place plans to cut 200 jobs from its business in a “streamlining” plan, it has confirmed in its annual results for 2020 which saw pre-tax profits drop to £426.4m in 2020 compared to £708.9m in the same period a year earlier.
The FTSE 100 business said net inflows were also down 8% but funds under management were up 11% to £129.3bn from £117bn. The firm said it had taken some measures to protect the business from the effects of the pandemic, adding a strategic review during 2020 would result in the loss of 200 roles. The results said: "During 2021 we are therefore simplifying our operations where we can, removing duplication of work and stopping those tasks that are now no longer needed. Unfortunately, this streamlining of the business means a loss of around 200 roles from across the St. James's Place busi...
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