Friends Life has said that 150 jobs are under threat of redundancy as part of an ongoing company restructure and cost-cutting plan.
The company said that, although it had identified considerable savings from non role-related costs, the proposed changes may result in around 150 roles being made redundant.
It also said that it has around 50 vacancies that will not now be filled.
The company said in a statement: "We are consulting with staff representative bodies and will communicate further details to our employees shortly.
"Friends Life continues to progress with the ongoing reorganisation of the business to create a group structure which can deliver its clearly-stated business strategy and position the business for future growth."
