LayoffBlog.com

March 26, 2009

Insurance giant to axe 650 jobs

Insurance firm Legal and General (L&G) is to cut 10% of jobs in its 6,500-strong life and pensions division.

L&G made the announcement after reporting a £1.5bn annual loss, and said it was cutting costs as it fought the recession and stock market turmoil.

The company, which has offices in Surrey, Hove, Cardiff and London, said the figure included 450 job losses announced last month.

Source: BBC News

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