Internal restructuring
United Kingdom
Location of affected unit(s)
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

1,000 jobs
Number of planned job losses
Job loss
Announcement Date
22 March 2007
Employment effect (start)
Foreseen end date


Life and pensions group Standard Life is to cut 1,000 jobs in the UK. The job losses are part of a plan to save 100 million GBP a year by 2009. The firm has already cut 4,500 posts since 2004. The firm now has 10,500 employees, some 7,500 of whom are based in Edinburgh. The firm hopes most of the cuts will come from normal staff turnover. The Amicus union is seeking recognition at Standard Life to try to prevent compulsory redundancies. 'Standard Life are putting profits for their new shareholders before their loyal workforce,' said Amicus national officer David Fleming.


  • 22 March 2007: BBC News
  • 22 March 2007: The Guardian


Eurofound (2007), Standard Life, Internal restructuring in United Kingdom, factsheet number 65142, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65142.