The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
360 jobs Number of planned job losses
Announcement Date
4 March 2004
Employment effect (start)
Foreseen end date
Description
Standard Life, Europe's largest member-owned insurer is to close 10 of its 21 direct sales branches, resulting in the loss of as many as 360 jobs. The offices listed for closure are in Belfast, Chester, Colchester, Dundee, Leicester, central London, Maidstone, Newcastle, Sheffield and Southampton. The move was said to provide for greater efficiency and stronger growth in key markets.
Sources
5 March 2004: The Guardian
Citation
Eurofound (2004), Standard Life, Internal restructuring in United Kingdom, factsheet number 59190, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59190.
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