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
140 jobs Number of planned job losses
Announcement Date
21 November 2012
Employment effect (start)
Foreseen end date
Description
Insurance and investment firm Standard Life has announced plans to cut 140 jobs in response to regulatory changes such as pension’s reform and the retail distribution review (RDR). The company stated that the redundancies would result in "more streamlined and flexible" structures in its UK divisions. It is reported that the majority of the jobs will go at the firm's Edinburgh headquarters.
Sources
21 November 2012: BBC News
Citation
Eurofound (2012), Standard Life, Internal restructuring in United Kingdom, factsheet number 74582, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74582.
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