AMP has confirmed plans to shed another 2000 jobs from its UK operations in a bid to fight the damage suffered from falling equity markets.

The cutbacks will see the financial services giant axeing 1900 jobs from its troubled British business, Pearl.

The larger-than-expected cuts come on top of 1500 job losses from AMP's 7000-strong UK workforce in June and 1200 from its Australian operations last month.

Employees and union representatives in Britain reacted angrily to the news.

But AMP bosses said the falls on equity markets meant it had little choice but to cut jobs.

Chief executive Andrew Mohl said: "We will do everything possible to minimise the number and consequences of redundancies."

However he said the group will also keep its Towry Law financial services business in tact.

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