BRITAIN's Guardian Royal Exchange said yesterday that 350 jobs are to go in a restructuring of the insurance group's area and branch network.
The job losses follow the £48 million acquisition of Legal & General's commercial insurance operations in July and are the latest in a series of industry moves to cut costs.
Guardian said the restructuring is intended to enhance the level of service and to benefit from the opportunities for economies of scale flowing from the Legal & General acquisition. The cutbacks will have no impact on the Irish business, a spokesman said yesterday. Guardian PMPA has "no plans for staff reductions in Ireland" the spokesman said.
It has been an unsettling year for insurance company employees with consolidation leading to sharp cutbacks in staff levels as employers look to reduce their cost base.