Britain's L&G to cut about 1,000 jobs
The insurer will open voluntary redundancies and consult unions as it seeks to simplify operations and improve returns after years of underperformance.
- On Wednesday, Legal & General CEO Antonio Simoes announced plans to cut about 1,000 jobs by mid-2027, aiming to strip out costs and improve performance at the 190-year-old financial group.
- Simoes told staff the firm needs to "become a leaner organisation" while trimming from four businesses into three divisions after selling assets like Cala Homes.
- L&G will start by offering voluntary redundancy to UK workers, though the asset management division is excluded from the cuts after undergoing restructuring last year.
- Despite a 13% stock rise in 2026, shares have underperformed rivals like Aviva in recent years, fueling speculation the company could become a takeover target.
- Management is opening a voluntary job reduction programme but does not rule out compulsory redundancies, and an L&G spokesperson said the company would consult unions on the reductions.
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Legal & General Layoffs: British Financial Giant Plans To Cut 1,000 Jobs by Mid-2027 | 📲 LatestLY
Legal & General is cutting roughly 10 per cent of its workforce, shedding about 1,000 roles by mid-2027 through voluntary redundancies and potential compulsory cuts to streamline operations. 'Across L&G, we need to change how we work today and, through this, become a leaner organisation,' said CEO António Simões. 📲 Legal & General Layoffs: British Financial Giant Plans To Cut 1,000 Jobs by Mid-2027.
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dailymail.comL&G to axe 1,000 jobs amid deepening UK jobs gloom
Insurance giant Legal and General is to axe a tenth of its workforce as Britain's jobs gloom deepens.
Legal & General to cut 1,000 jobs by middle of 2027
Legal and General plans to cut 1,000 jobs by the middle of next year as part of a push from chief executive Antonio Simoes to create a “leaner operation”. The UK’s largest asset manager informed staff on Wednesday on email that it has begun moves to eliminate 10 per cent of its workforce. The programme will involve voluntary redundancies in the UK but the company did not rule out mandatory job cuts depending on the take-up. “Over the last decade…
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