The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities 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
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59770.
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