Insurance firm with major office in Sheffield to axe 1,800 jobs

An insurance firm with a major office in Sheffield is to axe 1,800 jobs.

Insurance firm Aviva has a major office in Sheffield
Insurance firm Aviva has a major office in Sheffield

Insurance giant Aviva has said it will cut around 1,800 jobs over the next three years as part of an overhaul to save £300 million a year.

Aviva - which employs around 30,000 staff in total - said it will look to keep redundancies to a minimum, with some of the role cuts coming from natural staff turnover.

The group said savings will also be made across central costs, contractor and consultant spend, reduction in project spend and in other areas.

The group also announced plans to split its UK life and general insurance businesses to ‘enable stronger accountability and greater management focus’.

Aviva has a major office on Pear Street, just off Ecclesall Road.

The announcement comes as part of a revamp of the group by new chief executive Maurice Tulloch, who took on the top job in March.

He said: "Reducing Aviva's costs is essential to remain competitive and this means tough decisions and job losses which I do not take lightly.

"We will do all we can to minimise redundancies and support our people through this.

He added: "I am also determined to crack Aviva's complexity, an issue which has held back our performance for too long."

More to follow.