Norwich Union will cut 1,100 jobs by the end of 2009, it was announced yesterday.
The insurance giant, which is to be re-named Aviva, said about 800 people would be made redundant over the next eight months, with the remaining 300 permanent roles phased out through natural turnover and redeployment. The worst-affected roles will be those in business change and IT.
A further 590 temporary positions will also go, and the firm has closed a number of vacancies, the company said.
Norwich Union chief executive Mark Hodges said the company had undertaken a series of major projects in the past three years to simplify its operations and improve efficiency.
He added: “Unfortunately, this means that a reduction in the number of roles in the business is inevitable. Making decisions that affect our people is always difficult and we are fully committed to doing everything we possibly can to minimise the number of compulsory redundancies.”
Norwich Union will now enter a consultation period with those affected by the changes.