The Chartered Insurance Institute is holding consultation talks with staff as it forecasts a drop in revenues for next year.
Around a dozen out of the CII’s 200 staff are at risk of redundancy, including management. Staff have entered into consultation with the consultation period ending in the next few weeks.
A spokesman for the CII says: “Against a background of continuing global financial turmoil and having taken into account the approach of the RDR deadline the CII has forecast a reduction in revenue for 2013. As a not-for-profit chartered body we seek to balance revenue with costs on an annual basis and aim to avoid reporting a loss.
“In anticipation of lower revenues next year we have reduced our 2013 budget accordingly and this has required that we review staff costs. A number of roles have been identified as being at risk.”