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Standard Life makes further cuts ahead of RDR

Standard Life plans to cut 39 jobs and create 19 new roles as it continues its three-year structural reform programme ahead of the RDR.

The biggest changes will felt within the provider’s marketing business, with 17 people set to be made redundant and 15 new roles created.

There will be 16 jobs cut within Standard’s corporate and retail divisions, with 4 new roles created.

A further 6 roles will be made redundant in the firm’s risk division.

Standard Life UK chief executive Paul Matthews says: “We are 18 months into a three-year programme of transformation. We have made good progress, but much remains to be done. These latest changes are part of that journey and will help us become more effective and efficient.

“The investments we are making for the future are substantial and we must have the appropriate business model in place to support our continued success.  The next 12-18 months will be some of the most challenging our industry will face.

“Our priorities will continue to be on building a business that delivers value to our shareholders and supports the needs of our customers.”

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. Wesley Haslett 20th July 2011 at 2:38 pm

    Fast forward to July 2014
    Just got my bill from FSA for £40,000,000
    Apparently there are only 3 IFA firms still in business
    Well done Hannibal Hector remember to pocket your bonus before you join a bank
    What a pity we cannot prove that the FSA are hacking our phones then we could get shoot of this sorry lot but as they are a law onto themselves they would be immune from politicians who do not care that over 100,000 jobs are to go on the alter which is RDR

  2. Silly old Hector 20th July 2011 at 4:40 pm

    Of course this rather reinforces Hectors view that RDR will benefit consumers!

  3. Ah Mister Matthews, never a sign of regret about people losing their jobs. Maybe once you could at least say that it is unfortunate that it has to happen this way.

    Or do you care more about your appearance to the City rather than showing courtesy to loyal employees?

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