The trend continues as Insurance giant, Aviva plans to axe over 1,000 jobs following improvements in operational efficiency.
Another nice thank you from an employer for the workers that helped them achieve what was probably thought not possible, and considered it more aspirational than achievable, when the improvement strategy was announced.
Union officials advise that they have been told that offices in York and Norwich will be worst hit by the cuts, but other sites across the country will not be exempt for cuts in their workforce.
This announcement follows closely on the heels of RSA’s recent announcement to cut 1,200 employees in an effort to help shave £70m off of their operating costs.
This constant hammering of financial and insurance industry workers must be leaving everyone employed in those industries on edge.
Mark Hodges, chief executive at Norwich Union Life, said: “Our strategy over the last three years has seen us transform and simplify our business, leaving us well placed to face the challenges ahead.
Most of the job cuts are said to be in the areas of “business change” and IT and not related to the current economic downturn.
There is no clue as yet how this will affect actual insurance premiums. Hopefully, some good will come out of this and Aviva will bring premiums down.
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