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
126 jobs
Number of planned job losses
Job loss
Announcement Date
25 November 2004
Employment effect (start)
Foreseen end date

Description

Insurance firm Standard Life confirmed job cuts which include a total of 126 job losses throughout the UK, to staff at a series of meetings in Edinburgh.

Staff at Standard Life said they feared up to a further 1,000 job losses in the New Year after management yesterday confirmed that it is to down-size sales teams in six regional UK offices, and make up to 60 job cuts at its Edinburgh headquarters.

The latest round of redundancies at Standard Life are in addition to the 1,700 jobs the company has shed since November 2003. The insurer has a global workforce of 12,000, with 9,000 in the UK, mainly in Edinburgh.

Sources

  • 26 November 2004: The Scotsman

Citation

Eurofound (2004), Standard Life, Internal restructuring in United Kingdom, factsheet number 60789, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60789.