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
100 jobs Number of planned job losses
Announcement Date
8 September 2011
Employment effect (start)
Foreseen end date
Description
The Dutch pension company Aegon is to cut more than 100 jobs. The cuts are part of the firm's strategy to reduce costs by 25%. The insurer's UK arm is based in Edinburgh and most of the cuts are expected to affect workers in the capital. Some jobs are also going south of the border at the firm's IT base in Lytham St Annes, near Blackpool. Trade unions are confident the majority of job losses will be achieved voluntarily.
Sources
8 September 2011: BBC
Citation
Eurofound (2011), Aegon, Internal restructuring in United Kingdom, factsheet number 72341, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72341.
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