EMCC European Monitoring Centre on Change

Willis

Company/Organisation:
Willis

Geographic Location

Country: United Kingdom
Region: London
Location of affected unit(s): London

Company

Sector: Financial services
Financial and insurance activities
65.1 - Insurance

Employment Effects

Announcement Date: 16-05-2014
Planned Job Reductions min: 200
Planned Job Reductions max: 200
Type of Restructuring: Internal restructuring
Employment Effect Start: 14-08-2014
Foreseen End Date: 31-12-2014

Additional Information

Insurance broker Willis is reported to be considering redundancies for 200 staff at its London office. This move is part of a larger plan to cut costs across the company's global operations. In the first quarter of 2014 the company had announced that it would transfer 3,500 jobs to other locations in order to reduce costs. It is estimated that the restructuring plan will be complete by the end of 2017. 

The exact number of jobs under threat in this latest part of the restructuring has not been confirmed by the company, but it is understood to be 200. It has been confirmed that discussions are underway with UK employees. Furthermore it is also understood that some of the employees affected may be offered relocation packages from the London office to the Ipswich office, though the numbers that might be offered these terms is not known yet.

Updated, 14-08-2014: At a briefing to analysts about the company's first half 2014 results, Willis Group Executive Dominic Casserley has confirmed that the company will cut its UK workforce by 200 jobs by the end of 2014.