Standard Life

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
360 jobs
Number of planned job losses
Job loss
Announcement Date
4 March 2004
Employment effect (start)
Foreseen end date

Description

Standard Life, Europe's largest member-owned insurer is to close 10 of its 21 direct sales branches, resulting in the loss of as many as 360 jobs. The offices listed for closure are in Belfast, Chester, Colchester, Dundee, Leicester, central London, Maidstone, Newcastle, Sheffield and Southampton. The move was said to provide for greater efficiency and stronger growth in key markets.

Sources

  • 5 March 2004: The Guardian

Citation

Eurofound (2004), Standard Life, Internal restructuring in United Kingdom, factsheet number 59190, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59190.