Royal & Sun Alliance announce job cuts
The insurer Royal & Sun Alliance has announced plans to axe up to 1000 jobs in the UK and a further 500 abroad.
The company needs to cut its annual costs by around £130 over the next two years which follows on from an earlier cost cutting programme that called for a cut in costs of over £270 million. The aim is to trim costs by £130 million over the next two years.
The job loses will be split between retail, claims and their broker businesses. Royal & Sun Alliance has around 10,000 staff and it hopes to limit the number of compulsory redundancies.
The job loses follow on from a loss of around 1000 when it outsourced a lot of its admin to India
The company has seen a fall in premium prices on its insurance policies which has aggravated a market thriving on competition, although in May the company reported a 30% rise in its first quarter operating profits.
| 
