Legal & General to cut 1,000 jobs by mid-2027

Summarised from 3 outlets · Updated 24 Sept, 23:23 · Archive

Legal & General plans to eliminate 1,000 jobs, about 10% of its workforce, by mid-2027.

Legal & General, the UK's largest asset manager, plans to cut 1,000 jobs by the middle of 2027, roughly a tenth of its workforce. Chief executive António Simões, who took over in January 2024, is implementing the cuts as part of his push to create a 'leaner organisation'. The programme will initially involve voluntary redundancies but mandatory cuts may follow depending on take-up.

How it is being reported

• L&G to axe 1,000 jobs in shake up by boss Antonio Simoes amid deepening UK jobs gloomInsurance giant Legal and General is to axe a tenth of its workforce as Britain's jobs gloom deepens.This is Money · 23 Sept, 14:03
• Legal & General to cut 1,000 jobs by middle of 2027Legal and General plans to cut 1,000 jobs by the middle of next year as part of a push from chief executive Antonio Simoes to create a “leaner operation”. The UK’s largest asset manager informed staff on Wednesday on email that it has begun moves to eliminate 10 per cent of its workforce. The programme [...]City AM · 23 Sept, 13:53
• Legal & General to cut 1,000 jobs by mid-2027Programme will initially involve voluntary redundancies in the UK but the insurance and pensions firm will consider mandatory job cuts depending on the take-up Legal & General plans to cut 1,000 jobs by the middle of next year, about a tenth of the British insurance and pensions firm’s workforce. António Simões, the chief executive, is wielding the axe as part of his attempts to create a “leaner organisation” since taking over from longtime CEO Nigel Wilson in January 2024. L&G described the move as “the next stage of that transformation”. Continue reading...The Guardian · 23 Sept, 12:51

In this story: Legal & General · António Simões · Nigel Wilson · United Kingdom

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