EMCC European Monitoring Centre on Change

Royal & Sun Alliance

Company/Organisation:
Royal & Sun Alliance

Geographic Location

Country: United Kingdom

Company

Sector: Financial services
Financial and insurance activities
65 - Insurance, reinsurance and pension funding, except compulsory social security
Number Employed: 17000
Group: Royal & Sun Alliance

Employment Effects

Announcement Date: 05-09-2003
Planned Job Reductions min: 1000
Planned Job Reductions max: 1000
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-09-2003
Foreseen End Date: 01-12-2004

Additional Information

Royal & Sun Alliance, the second insurance group in the UK, will cut 1,000 jobs in its UK branch. These cuts add up to the ones previously announced and are due to the weakening of the market and the lack of personal funding of the group. The suppressed jobs in the UK will be integraly externalised, some of them (about 100) to India.