Abrdn launches £150m cost cutting programme with 2025 deadline

Fund giant to cut 500 jobs in bid to reduce costs before 2025

Eve Maddock-Jones
clock • 2 min read

Abrdn has unveiled the extent of its latest cost-cutting programme, which seeks to reduce annualised costs by £150m by the end of 2025, which includes cutting 500 jobs.

It was revealed yesterday (23 January), that the Edinburgh-based asset manager was letting about 500 members of its staff go, a cohort which excludes fund managers as they were ringfenced from the endeavour. Today, Abrdn explained the scale of the new operation, which chief executive Stephen Bird described as a "transformation programme". He said: "We exceeded our £75m cost reduction target for 2023 for Investments, but we recognise more needs to be done. "After a root and branch review, we are now re-engineering and simplifying our business model to remove at least £150m of costs ...

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

Eve Maddock-Jones
Author spotlight

Eve Maddock-Jones

Editor at Investment Week

More on Investment

Pensions tax breaks: Budget 'kite-flying' creating cash management challenge

Pensions tax breaks: Budget 'kite-flying' creating cash management challenge

Savers and advisers dealing with cash management quandary

Kate Toumazi
clock 14 October 2025 • 3 min read
Partner Insight: Finding the right partner for a managed portfolio service

Partner Insight: Finding the right partner for a managed portfolio service

Francis Clark Financial Planning set up a white-label managed portfolio service for their clients, but as the effects of COVID-19 played out and markets stagnated, they realised they needed a change. Managing Director Chris Reah explains how they found the right solution.

Chris Reah, Francis Clark Financial Planning
clock 13 October 2025 • 5 min read
Watch Professional Adviser's Working Lunch with Baillie Gifford - Decumulation Decisions: Resilient Monthly Income for Retirees

Watch Professional Adviser's Working Lunch with Baillie Gifford - Decumulation Decisions: Resilient Monthly Income for Retirees

Catch up on the discussion

Professional Adviser
clock 10 October 2025 • 1 min read