Restructuring events
European Restructuring Monitor (ERM)
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 provider Legal & General Assurance Society (LGAS), subsidiary of the London based Legal & General Group is to cut around 600 jobs.
As announced, the consultation period with the employee representatives has already been inititated and the job losses follow a merge of the group’s protection and savings divisions into the newly established LGAS in a move to improve customer oriented provision of services.
According to the sources the job cuts may take place in Birmingham, Hove, Kingswood and London.
Legal & General announced that possibly some of the redundant staff will be offered redeployment.
Unite has expressed its dismay to the job reduction plans.
Eurofound (2013), Legal & General Assurance Society, Internal restructuring in United Kingdom, factsheet number 76017, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76017.
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