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Insurer warns of UK job losses.

Summary: Insurance group Aegon has warned of job losses in the UK as part of a major overhaul of its operations.

Dutch insurance group Aegon has warned of job losses among its 3,700 UK life and pensions employees as part of a major overhaul of its operations.

The group aims to cut UK costs by 25 per cent by the end of next year under a plan to refocus the business and pull out of unprofitable areas.

Aegon said it was too early to say how this would impact staff, but it plans to give more details at the end of September.

The group's UK life and pensions arm will take the brunt of the cost-cutting.

This division employs around 2,400 staff in Edinburgh, 670 at Lytham St Annes, Lancashire, and 630 in sales roles across the UK.

Independent Television News Limited 2010. All rights reserved.

Independent Television News Limited 2009. All rights reserved.

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Publication:Independent Television News Limited (ITN)
Date:Jun 28, 2010
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