The insurance company, Direct Line, is reportedly set to cut its workforce by 14%, resulting in the loss of around 2,000 jobs.
The group, which amongst others owns the Churchill and Privilege insurance brands, and previously owned the Royal Bank of Scotland, is understood to be in discussions with employees and union members regarding the cuts, which are expected to affect individuals at its head office in Bromley and other support functions across the UK.
The proposed job cuts are part of an ongoing cost-cutting process by the group as it looks to reduce its outgoings by £100 million per year.
Direct Line recently announced that its call centre in Teeside would be closing this month as part of the process. Around 1,400 members of staff have been made redundant by the group since August 2012.
Compare insurance quotes with us How a no claims discount works? Cheaper Home Insurance
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.