Norwich Union to axe 700 jobs

The
Norwich Union insurance company is to lose 700 staff as part of a cost-cutting
exercise.

The
jobs will go at five of the firm’s UK sites: Norwich, York, Bristol, Stevenage
and Croydon. Cuts will be made in the company’s life businesses services
division.

Norwich
Union, the UK’s biggest insurer, said tough market conditions were to blame.

The
Amicus union said it would vigorously oppose any compulsory redundancies and
the offshoring of any jobs abroad.

By Michael Millar

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