We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedPeople Management

Aviva to cut 800 jobs


Union Unite has labelled the announcement ‘appalling’ and ‘totally unacceptable’

Article comments

Aviva is to cut up to 800 jobs in the coming months, the company said on Friday, as the insurer struggles to restructure its business to boost finanical performance.

Earlier this month Aviva posted a pre-tax net loss £681 million, and had to write down £876 million in goodwill and intangibles in the US business.

The cuts come as part of the insurer’s attempt to create a more agile and efficient business, but has sparked anger from the union Unite who has slammed the decision as “absolutely appalling”.

“We’ve previously outlined plans to simplify our business and make it more efficient and agile. Yesterday, we briefed our UK employees about the next stage in this process, including sharing new team structures with them," a spokeswoman for Aviva told Computerworld UK.

“The vast majority of our employees will be placed into roles with little change. Up to 800 roles could be at risk, although in practice it will be fewer than this because of natural turnover, voluntary redundancies and redeployment opportunities within Aviva. There will also be some new roles in growth areas”

Unite has said that the programme, dubbed ‘Project Simplify’, started as an attempt to cut bureaucracy and duplication at senior and middle management levels, but has turned into a major job cuts agenda across the Aviva workforce.

David Fleming, Unite national officer said: “Our members face being asked to pay the price of boardroom failure and Unite is dismayed that what started out as a shareholders' revolt on executive pay will result in a jobs cull. This is totally unacceptable."

Aviva plans to sell or close more than a quarter of its businesses in a shake-up aimed at regaining the support of investors who in May forced out chief executive Andrew Moss in protest over the group's poor stock market performance.

photo credit: Reuters

Share:

Recommended Articles

Comments

Aviva to cut 800 jobs
People Management

Is the CFO still the sole sacrificial lamb when a company struggles?

Is the CFO still the sole sacrificial lamb when a company struggles?

Tesco's announcement today that boss Philip Clarke is to leave proves that's no longer the casemore ..


Diageo brings Facebook’s Nicola Mendelsohn on board

Mendelsohn is an expert in digital marketingmore ..

Engineer Babcock International promotes group FD

Its financial controller of 12 years will step up to be the new group FD as Bill Tame becomes CEO of the international divisionmore ..

Tesco ex-FD appointed Morrison’s next chairman

Andrew Higginson served as finance director at Tesco for 15 yearsmore ..

Ten tactics to unleash the potential of Generation Y in finance

Most CFOs are Baby Boomers or Generation X-ers – the difference in mindset is hugemore ..

What's the role of the finance chief in a takeover bid?

With Pfizer's possible takeover of Astrazeneca in the spotlight we take a look at how pivotal the CFO is in such a dealmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
Can finance rise to the challenge of major transformation?

Can finance rise to the challenge of major transformation?

Outdated finance processes, systems and competencies leave too many questions unanswered more ..

In Depth
Interim CFO or consultant? The pros and cons

Interim CFO or consultant? The pros and cons

Ed Harding offers an insight into the life of an interim CFO and the advantages in driving transformation more ..

Advertisement

* *