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09/06/2004
700 jobs to go at Norwich Union
Up to 700 jobs are to go at the insurer Norwich Union as part of a restructuring process, it has been announced today.
The restructure, which will be completed by the end of 2005, will result in approximately 700 job losses and a reduction of 250 contract worker positions.
The jobs are anticipated to go at: Norwich (250); York (150); Bristol (150); Stevenage (100); and Croydon (50). Contract worker positions will reduced at Norwich, York, Stevenage and Bristol.
Norwich Union said that it will restructure its Life business services division, which includes IT, facilities management and business systems. The move is designed to reduce costs and increase flexibility in response to "changing market conditions".
The work currently undertaken by the affected teams, predominantly software development and application support, will be transferred to IT outsourcing companies who have global operations including locations in the UK, elsewhere in Europe, America and India.
Norwich Union said it will do all that it can to find opportunities for the redeployment of staff affected by the changes to alternative roles, however the company expects the majority of the job losses will be compulsory. Norwich Union has set aside £1 million to provide career advice and support for the staff affected by these changes.
Gary Withers, Norwich Union Life’s chief executive, said: "Decisions that affect staff in this way are never easy to make. However, recent market conditions in the UK long-term savings market have been tough and we have to ensure that the company continues its drive for efficiency. We will do everything we can to help and support staff during these challenging times and we will ensure they are kept fully informed throughout this process."
Norwich Union and its parent company Aviva employ 33,000 staff in the UK, 15,000 of whom are employed in the Life business. The Life business services division currently employs 1,400 staff and 350 contractors. After the restructure, business services will employ approximately 700 staff and 100 contractors.
(gmcg)
The restructure, which will be completed by the end of 2005, will result in approximately 700 job losses and a reduction of 250 contract worker positions.
The jobs are anticipated to go at: Norwich (250); York (150); Bristol (150); Stevenage (100); and Croydon (50). Contract worker positions will reduced at Norwich, York, Stevenage and Bristol.
Norwich Union said that it will restructure its Life business services division, which includes IT, facilities management and business systems. The move is designed to reduce costs and increase flexibility in response to "changing market conditions".
The work currently undertaken by the affected teams, predominantly software development and application support, will be transferred to IT outsourcing companies who have global operations including locations in the UK, elsewhere in Europe, America and India.
Norwich Union said it will do all that it can to find opportunities for the redeployment of staff affected by the changes to alternative roles, however the company expects the majority of the job losses will be compulsory. Norwich Union has set aside £1 million to provide career advice and support for the staff affected by these changes.
Gary Withers, Norwich Union Life’s chief executive, said: "Decisions that affect staff in this way are never easy to make. However, recent market conditions in the UK long-term savings market have been tough and we have to ensure that the company continues its drive for efficiency. We will do everything we can to help and support staff during these challenging times and we will ensure they are kept fully informed throughout this process."
Norwich Union and its parent company Aviva employ 33,000 staff in the UK, 15,000 of whom are employed in the Life business. The Life business services division currently employs 1,400 staff and 350 contractors. After the restructure, business services will employ approximately 700 staff and 100 contractors.
(gmcg)
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