Legal & General in consultation over 600 job cuts

Legal & General is in talks with union Unite over potential redundancies.

The move is part of a wider restructuring of the business announced in June, with 600 jobs at risk of cuts.

A Legal & General spokesperson said: “We have entered into consultation with employee representatives and Unite in relation to potential redundancies at Legal & General Assurance Society.

“We aim to keep redundancies down to a minimum and provide redeployment in Legal & General where possible.”

Staff at risk of losing their jobs come from the insurance division (UK retail protection, general insurance, Legal & General Netherlands and Legal & General Network) and the corporate division (group protection, workplace savings and Legal & General France).

Unite’s national officer, Dominic Cook said they have not yet received details of exactly where the redundancies are going to be and will continue discussions with the company, through formal consultations.

Cook added: “The union is dismayed at this announcement, which signals yet more job losses within financial services at a time when most employers are making large profits.

“It’s a shame that like so many other organisations, despite the fact they seem to be doing well, they are continuing to cut jobs. It’s very disappointing for everyone.

“We will work on our members’ behalf to mitigate the need for compulsory redundancies. In addition, our on-site Unite representatives are providing support throughout this distressing period.”

The consultation is expected to last up to 90 days.