The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
1,200 jobs Number of planned job losses
Announcement Date
8 August 2002
Employment effect (start)
Foreseen end date
Description
Royal & Sun Alliance, the British insurance company, announced 1,200 job cuts following a decision to close its UK life operations to new business. 970 jobs will be cut across three sites (Bristol, Liverpool and Horsham), 230 jobs from its sales force accross the UK. A spokesperson for the company said 520 jobs would go in Bristol, 250 in Liverpool, 200 in Horsham.
Sources
8 August 2002: The Guardian
Citation
Eurofound (2002), Royal & Sun Alliance, Internal restructuring in United Kingdom, factsheet number 59383, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59383.
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