Aegon

Type
Internal restructuring
Country
United Kingdom
Region
Scotland;
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
100 jobs
Number of planned job losses
Job loss
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://apps.eurofound.europa.eu/restructuring-events/detail/72341.