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
New offshoring locations
1,200 jobs Number of planned job losses
Announcement Date
11 October 2004
Employment effect (start)
Foreseen end date
Description
On 11 October 2004, Royal & Sun Alliance became the latest company to announce plans to cut costs by axing jobs in Britain and transferring work to India. The decision by the insurer to move 1,200 jobs to Bangalore during the next two years prompted the trade union Amicus to call for more training and development for British-based workers. RSA has an 11,000-strong workforce in Britain with about 6,500 of them being involved in the type of call centre and customer service work that is being transferred to India. RSA is trying to cut the roles through natural turnover and redeployment but has not ruled out making compulsory redundancies.
Sources
12 October 2004: The Guardian
Citation
Eurofound (2004), Royal & Sun Alliance, Offshoring/Delocalisation in United Kingdom, factsheet number 60638, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60638.
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