Britannic
Assurance has announced it is to make 2,000 staff redundant as a result of the
firm’s decision to cut its direct sales force.
The
company aims to save £82 million through the job cuts, which will be completed
by the end of the next financial year.
Britannic
Assurance’s chairman, Harold Cottam, said, “We are taking decisive action to
reduce the sales force to a profitable core and shift our focus to more
valuable distribution channels.
“It
is no longer possible to run a large sales force serving low to middle-income
households on an economic basis. Whilst continuing to serve our existing
customers we will focus on other channels such as IFAs and tied agencies.
“These
changes at Britannic Assurance will deliver annual cost savings of some £82
million which will be achieved in full by our next financial year.”
By
Ben Willmott
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