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Origen to axe 72 for RDR

Origen is cutting 72 jobs as it looks to restructure for the retail distribution review.

The company says the cuts will come at all levels and across all branches of the firm through a mixture of voluntary and compulsory redundancies.

Origen managing director Stephen Greenstreet says: “It is important that Origen has a business mix that is profitable in all market conditions and that we have a high quality team of consultants to take the business forward as we approach the challenges of the retail distribution review.

“This means taking some tough business decisions but we hope that many of the redundancies can be achieved through voluntary arrangements. It means the business will be better positioned as we move into a new commercial environment created by the proposed retail distribution review regulations.

Aegis, the independent trade union that represents employees in Origen Financial Services, is in consultation with management over the restructuring of Origen.

General secretary Michael Gray says: “Our position is to oppose compulsory redundancies. We will continue to work closely with the company to explore all opportunities to help our members.”

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