Royal & Sun Alliance

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
3,800 jobs
Number of planned job losses
Job loss
Announcement Date
8 November 2002
Employment effect (start)
Foreseen end date
1 June 2004

Description

Royal & Sun Alliance, in the framework of its worldwide restructuring plan, will shed 5,000 jobs in the UK. These include 1,200 jobs already earmarked from the closed life insurance operation (see previous factsheet). RSA is now cutting a further 1,400 jobs from general insurance business in Britain and will transfer 2,200 through outsourcing.

On February 13, 2003 : 1,700 employees currently working for RSA are to be transferred to Unisys, in a plan for Unisys to process and administer RSA's life and pensions policies. The concerned jobs are in Liverpool and Horsham; Unisys declared they were committed to maintain offices in those locations.

Sources

  • 13 February 2003: The Guardian
  • 8 November 2002: The Guardian

Citation

Eurofound (2002), Royal & Sun Alliance, Internal restructuring in United Kingdom, factsheet number 59770, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59770.