Insurance giant Aviva will cut around 1,800 people’s jobs over the next three years as part of an overhaul. Aviva has offices in 16 countries and a global workforce of 30,000 people, with 16,000 employees in the UK.
Chief executive Maurice Tulloch said: “Today is the first step in our plan to make Aviva simpler, more competitive and more commercial. Reducing Aviva’s costs is essential to remain competitive and this means tough decisions and job losses which I do not take lightly. We will do all we can to minimise redundancies and support our people through this.”
The firm plans to find cost savings through lower central costs, savings on contractors and consultants, lower project expenditure and other efficiencies. It added: “This will involve approximately 1,800 role reductions across the group over the next three years, out of a total workforce of around 30,000.”
Tulloch said: “We have strong foundations: excellent distribution, world class insurance expertise, and our balance sheet is robust but there are also clear opportunities to improve.”
Aviva has engaged with Unite and our employee representative bodies and will continue to consult on specific proposals.