Jobs loss at Norwich Union
PUBLISHED: 12:38 14 September 2006 | UPDATED: 10:54 06 May 2010
SCORES of jobs are set to go at Norwich Union in Stevenage by the end of next year. Thousands of jobs will go throughout the country with the Stevenage branch losing 150 posts. The changes will result in a reduction of around 4,000 roles across the UK.
SCORES of jobs are set to go at Norwich Union in Stevenage by the end of next year.
Thousands of jobs will go throughout the country with the Stevenage branch losing 150 posts.
The changes will result in a reduction of around 4,000 roles across the UK. The company hopes half of those will be met through voluntary redundancies.
Of the reductions, around 1,000 operational roles will be offshored to India in line with existing plans already announced, while around 500 IT roles will be outsourced to third party suppliers.
Norwich Union executive chairman Patrick Snowball said the operational changes were necessary to reshape and simplify operations to meet the challenges of the changing insurance marketplace.
He said: "We have to ensure that Norwich Union remains a highly efficient and successful company in what is an increasingly competitive and dynamic environment.
"Customers' buying habits are changing rapidly as technology becomes more accessible, demonstrated by the fact that 50 per cent of our new direct motor insurance policies are now bought online.
"Consumers, independent financial advisors and brokers are increasingly operating in a self-service world and we have to continue to respond to this.
"We recognise that tough decisions such as these are difficult for the people affected but they are absolutely necessary. We will look for every opportunity to redeploy staff in new roles and we will ensure those affected get specialist career advice.
Stevenage MP, Barbara Follett, offered her support to workers. She said “Though I understand the reasons behind these job losses I know, from my own experience, just how difficult this will be for the workers and families who will have been affected by this announcement.
“I will make every effort to work closely with the Norwich Union management to ensure that these changes are implemented smoothly and employees are treated fairly”.
Mrs Follett went on to say: “Despite these job losses Norwich Union remains a key player in Stevenage’s economy and I hope that after this restructuring they will continue to be so. I hope to visit the firm’s local premises soon to discuss future projects and the impact these could have on Stevenage”.