Hyder out at Standard Life after restructure
Pam Hyder, head of brand communications at Standard Life, has been made redundant as part of cutbacks at the company.
Hyder’s position was amongst several in the marketing department that was made redundant as the company looks to cut costs across the board. Reportedly around 1,000 jobs have been lost following the decision to reposition and cut costs, after a disappointing stock market performance.
It was announced in March by group chief executive Sandy Crombie that there would be a restructure which would result in staff cutbacks, as the company looked to cut costs by 20 per cent.
Hyder, along with other staff members in the marketing department, is said to have been given the chance to apply for one of a fewer number of positions within the department, but was unsuccessful.
Following the restructure Hyder’s immediate boss, Martin Slater, has been made marketing director for protection products, where he will remain in overall control of the company’s brand advertising. Slater will liase with Helen Ferguson, previously subordinate to Hyder, who takes up the role of brand communications manager. Nobody at Standard Life was available to comment on the changes as The Drum went to press.
The restructure could come as bad news for The Leith Agency, who has handled the above the line advertising for Standard Life since the late 90’s. The agency’s most recent campaign for Standard Life, ‘I like Standard Life’, is currently running on television nationwide.