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Daily Insurance Industry News
Tuesday 11th of December 2018
November 24, 2010

AEGON UK sheds another 51 jobs

by Gill Montia

Story link: AEGON UK sheds another 51 jobs

AEGON UK is shedding 51 jobs across its employee benefits and finance departments.

Most of the job losses will come from the company’s Edinburgh base and compulsory redundancies will be kept to a minimum.

The move forms part of plans to refocus the business on two markets (At retirement and Workplace savings), while reducing operating costs by 25% by the end of next year.

AEGON closed its employee benefits unit to new business in May 2009 and remaining employee benefits clients will be catered for from within the group’s customer service division.

In the finance department, a reduction of nine roles represents the first phase of the restructuring, with further phases planned for 2011.

AEGON UK chief operating officer, Adrian Grace, says: “The changes we are making now are essential to ensure the long term success of AEGON in the UK.”

Other key developments since the plans were announced in June include: restructure of sales division with the loss of 106 roles; sale of third party pensions administration business to Goddard Perry with transfer of 82 staff.

 

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