L&G targets 10% job cuts to tackle 'complex' structure

It is understood that the firm's asset management division will not be impacted by the job cuts, and that employees in the UK will be given the option of a voluntary redundancy at first. In an email to staff, CEO António Simões said that in the past two-and-a-half years, L&G has made "significant progress" executing its strategy, including the simplification of the firm's operation and the establishment of three core businesses – asset management, retail and institutional retirement. "However, over the last decade, different structures, processes and ways of working have developed acr...