10% jobs cut targeted for L&G

COVER's sister brand, Investment Week, understands the firm's asset management division will not be impacted by the job cuts, and that employees in the UK will be given the option of a voluntary redundancy at first. In an email to staff, CEO António Simões said that in the past two and a half years, L&G has made "significant progress" executing its strategy, including the simplification of the firm's operation and the establishment of three core businesses – asset management, retail and institutional retirement. "However, over the last decade, different structures, processes and ways ...