Article date: 2 April 2009
Norwich Union Life today confirmed a number of changes to its operations across the UK.
Over the past three years, the life and pensions provider has undertaken a series of major projects to simplify its operations and improve efficiency. As this work nears completion the number of roles in the business will reduce. The majority of these roles are in business change
and IT. The remainder are spread across other areas of the business, which will be reducing in size to reflect the simplified organisation.
As a result of this announcement, there is expected to be a reduction of 1100 permanent roles by the end of 2009, though the impact on staff will be minimised by natural turnover and redeployment. A number of vacancies have also been closed. Consequently the number of
permanent employees who will leave the company is estimated to be around 800.
In addition, 590 contract positions will be closed over the next few months.
Mark Hodges, chief executive at Norwich Union Life, said: "Our strategy over the last three years has seen us transform and simplify our business, leaving us well placed to face the challenges ahead. We have made significant progress in improving our operational efficiency and are also nearing completion on a series of major change projects.
Unfortunately, this means that a reduction in the number of roles in the business is inevitable.
"Making decisions that affect our people is always difficult and we are fully committed to doing everything we possibly can to minimise the number of compulsory redundancies. Our priority now is to work with everyone affected by today's announcement and to support them however
Norwich Union will now enter a consultation period with those affected by these changes.
Press office contacts:
David Ross Head of Media Relations, Norwich Union Life 01904 723236 / 07800 699665
Lucy Grubb Senior Media Relations Manager, Norwich Union Life 020 7662 3625 / 07800 691935
About Norwich Union
- Norwich Union, soon to be Aviva, is the UK's largest insurer. It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
- Norwich Union is the UK's largest general insurer with a market share of around 14%, with a focus on insurance for individuals and small businesses.
- Norwich Union's news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media
- Aviva employs around 30,000 people in the UK.
Major Locations Impacted*
Estimated number of staff expected to leave the company
* Where other locations are affected the number of staff impacted is less than 30