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25 Staff Take Voluntary Redundancy at Insurance Giant Aviva

Written by: Keith Tully

Published: 12th October 2012

signingA cost-cutting drive at UK insurance giant Aviva has seen 25 staff members opting for voluntary redundancy, equating to one in six staff within the company’s Birmingham office.

The exiting staff will depart next month in a strategy aimed at insuring the firm’s mid to long-term future leaving around 140 staff remaining in their city centre office.

A total of 25 people will leave the city office next month as part of a radical cost-cutting drive announced earlier this year by Britain’s second largest insurer. The departures will leave around 140 staff at the city centre office.

Aviva acting head of media relations Erik Nelson said in a statement:

“In June we announced changes to our general insurance trading centres so that we are able to be more responsive, and make clear, quick decisions for our brokers.

“In order to minimise redundancies, we offered staff in these centres the opportunity to apply for voluntary redundancy. In Birmingham this has resulted in 25 people taking voluntary redundancy.”

Only three months ago Aviva stated that 800 jobs were at risk around the country, particularly middle management roles within life and general insurance, though redeployment was said to be a priority to keep the number of job losses down.

Executive chairman John McFarlane unveiled these plans as a move to cut costs by £400m within two years.

The news comes in a week where Aviva, said to be Britain’s second largest insurer, also announced the end of its 13-year sponsorship of British athletics despite the sport's increased profile following a summer of Olympic and Paralympic success.

The firm still sponsors English rugby's Premiership and Premier League football club Norwich City.

Keith Tully

Keith Tully

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Keith has been involved in Business Rescue since 1992, during which time he’s worked for both independent and national firms. His specialties include company restructuring matters and negotiating with HMRC on his clients behalf.

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