Aviva to scrap 1,500 staff
The Norwich-based insurer had remained tight lipped on potential job losses - as well they might - since announcing plans for the biggest insurance deal for 15 years in November.
The company will axe a tenth of its staff as part of their plans to deliver around £225 million by the end of 2017.
Friends Life currently employs 3,700 in the UK, with its largest operation in Bristol, and smaller offices in Dorking, Surrey.
Aviva employs 16,000 across the UK, with around 5,000 in its York and Sheffield-based life and pensions business. The insurer hasn't allocated where the cuts will be happening, thus putting its entire workforce at ease, no doubt.
A spokesman for the insurer said: "We appreciate that this news may be disconcerting for employees and we would look to ensure that any redundancies are kept to a minimum wherever possible, by using vacancies and natural turnover, for example," an Aviva spokesperson said.
Them pesky shareholders will vote on the deal on March 26th, which is expected to go through on April 13th.