Royal & Sun Alliance

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
1,000 jobs
Number of planned job losses
Job loss
Announcement Date
5 September 2003
Employment effect (start)
1 September 2003
Foreseen end date
1 December 2004

Description

Royal & Sun Alliance, the second insurance group in the UK, will cut 1,000 jobs in its UK branch. These cuts add up to the ones previously announced and are due to the weakening of the market and the lack of personal funding of the group. The suppressed jobs in the UK will be integraly externalised, some of them (about 100) to India.

Sources

  • 5 September 2003: The Guardian
  • 5 September 2003: Les Echos

Citation

Eurofound (2003), Royal & Sun Alliance, Internal restructuring in United Kingdom, factsheet number 60061, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60061.