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.

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

By Michael Millar