Norwich Union insurance to cut 1,100 jobs

03 April 2009 / by Rebecca Sargent
Norwich Union announced yesterday that it will be cutting 1,100 jobs this year from its Life arm.

Aviva owned Norwich Union Life confirmed yesterday that the job cuts would be made as part of a number of changes to its operations including "projects to simplify and improve efficiency."

According to the pension and life insurance provider, the majority of role reductions will be in business change and IT, reducing the size of the business to "reflect the simplified organisation."

Commenting, 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.

"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."

Aviva, which owns Norwich Union Life, announced losses of £885million for 2008, as a result of "a tumultuous year."

Commenting on the job cuts, Derek Simpson, general secretary at union Unite said: "Unite is angry that Aviva is repeating what appears to be an annual exercise of cutting thousands of staff.

"The Aviva workforce is continuing to live under constant uncertainty about their future. Unite has been told that these job losses are unrelated to the economic downturn."

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