Standard Life

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
140 jobs
Number of planned job losses
Job loss
Announcement Date
21 November 2012
Employment effect (start)
Foreseen end date

Description

Insurance and investment firm Standard Life has announced plans to cut 140 jobs in response to regulatory changes such as pension’s reform and the retail distribution review (RDR). The company stated that the redundancies would result in "more streamlined and flexible" structures in its UK divisions. It is reported that the majority of the jobs will go at the firm's Edinburgh headquarters.

Sources

  • 21 November 2012: BBC News

Citation

Eurofound (2012), Standard Life, Internal restructuring in United Kingdom, factsheet number 74582, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74582.