Sun Life Financial closes UK direct selling arm

Sun
Life Financial of Canada is cutting 1,700 jobs in a restructuring of its UK
direct sales force.

The
financial company currently employees around 2,000 in the UK and aims to reduce
that to approximately 900 by the end of this year.

The
job cuts include 1,230 support staff at the Basingstoke head office, 660
regionally based sales consultants and 120 support staff.

“We
have an excellent sales force but we had to come to the reluctant conclusion
that maintaining a direct selling arm is no longer sustainable in our industry.
The traditional direct sales force is just too expensive to run,” said Steve
Melcher UK managing director.

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www.sunlife.com

By
Paul Nelson