Aegon UK set to shed hundreds of sales jobs across the UK
650 sales jobs across the UK could be shed by finance business Aegon as it looks to save up to a quarter of its costs by next year.
Aegon has ended speculation that it will sell its British business, although it has admitted that hundreds of jobs are likely to be lost as a result.
The company is looking to cut a quarter of its UK costs, which could see 600 jobs lost in Edinburgh, 670 in Lancashire and 630 sales roles across the UK as it looks to change its product offering during a three month review.
A spokesperson for Aegon UK, explained; "In the United Kingdom, Aegon will take significant steps to improve return on capital by targeting cost reductions of 25% in life and pensions and refocusing the business on the growth market segments of At Retirement and Workplace Savings where Aegon has leading positions."
Aegon UK has recently launched a summer advertising campaign through Billington Cartmel to promote its sponsorship of UK tennis which it began last year under the leadership of marketing chief Steve Clode, who departed the company in February.
The company has been one of the few clients to spend consistently in Scotland as it looked to develop its brand across the UK, having working with The Leith Agency, Line and Billington Cartmel in the last year.