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02/11/2001
Prudential Belfast branch threatened as 2,100 jobs axed
Britain's second biggest insurance group, the Prudential has announced that it will axe 2,100 jobs, some of which may be in Belfast.
The jobs, which will go by the end of 2003, are part of a company-wide restructuring. One thousand of the job cuts will be compulsory redundancies from back-office and support services.
The losses are in addition to 2,000 cuts already announced this year.
Responding to the announcement, the SDLP’s spokesperson on Enterprise, Trade and Investment, Alistair McDonnell, said: “This is extremely worrying. Union sources have indicated that job cuts will be made in a number of locations including Belfast. I would appeal to the Minister of Enterprise, Trade and Investment to work to ensure we remain on top of the unemployment situation here.
“A number of organisations have announced difficulties and possible job losses in the coming months in Northern Ireland. It is important that we move now to tackle the difficulties before they worsen.”
The changes come as the result of a major strategic review of the Prudential's UK operations with plans to overhaul under-performing businesses.
In February, the company cut one-sixth of its workforce by scrapping door-to-door sales teams. However, last month the company reported a 54 per cent rise in sales and said its direct exposure to the insurance cost of the September 11 attacks were extremely limited. (MB)
The jobs, which will go by the end of 2003, are part of a company-wide restructuring. One thousand of the job cuts will be compulsory redundancies from back-office and support services.
The losses are in addition to 2,000 cuts already announced this year.
Responding to the announcement, the SDLP’s spokesperson on Enterprise, Trade and Investment, Alistair McDonnell, said: “This is extremely worrying. Union sources have indicated that job cuts will be made in a number of locations including Belfast. I would appeal to the Minister of Enterprise, Trade and Investment to work to ensure we remain on top of the unemployment situation here.
“A number of organisations have announced difficulties and possible job losses in the coming months in Northern Ireland. It is important that we move now to tackle the difficulties before they worsen.”
The changes come as the result of a major strategic review of the Prudential's UK operations with plans to overhaul under-performing businesses.
In February, the company cut one-sixth of its workforce by scrapping door-to-door sales teams. However, last month the company reported a 54 per cent rise in sales and said its direct exposure to the insurance cost of the September 11 attacks were extremely limited. (MB)
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700 jobs at risk at Prudential
Insurance firm Prudential has announced plans to close sites in Belfast, Bristol and Holborn, London. The closure will lead to the loss of around 700 jobs in the UK, which will be transferred to other sites, including India. The closures are part of the a £40 million cost-saving programme, which was announced by Prudential last December.
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