Aviva cuts 2,000 jobs to revive fortunes
Source: Agencies |
April 19, 2013, Friday
|
Print Edition
Print Edition
BRITISH insurer Aviva Plc confirmed yesterday it will slash up to 2,000 jobs worldwide in the latest cost-cutting drive aimed at revitalizing its flagging fortunes.
Chief Executive Mark Wilson told staff the cuts would equate to around 6 percent of Aviva Group's global workforce over the next six months and reiterated a commitment to deliver over 400 million pounds (US$609 million) in cost savings by year-end.
Aviva, which employs around 31,200 people, has launched a root-and-branch shake-up after years of spiraling costs, disappointing share price performance and an investor revolt that led to the departure of former CEO Andrew Moss in 2012.
Aviva is also overhauling its redundancy policy for all employees on UK contracts.
Chief Executive Mark Wilson told staff the cuts would equate to around 6 percent of Aviva Group's global workforce over the next six months and reiterated a commitment to deliver over 400 million pounds (US$609 million) in cost savings by year-end.
Aviva, which employs around 31,200 people, has launched a root-and-branch shake-up after years of spiraling costs, disappointing share price performance and an investor revolt that led to the departure of former CEO Andrew Moss in 2012.
Aviva is also overhauling its redundancy policy for all employees on UK contracts.
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