24 June 2010

Announcement of job losses at Aegon

Following yesterday's announcement that staff in Aegon UK's life and pensions division are to face job losses, Margaret Smith MSP for Edinburgh West has written to the Chief Executive asking that full support be given to those who face redundancy. Commenting Smith said:

"This is another blow to Edinburgh's financial services. The announcement by Aegon will potentially affect hundreds of individuals and their families.

"Aegon needs to make sure that it gives staff the necessary support in order for them to find alternative employment. I have asked the Chief Executive for further clarification on the situation and his reassurance that employees will be given the help and advice they require."

Aegon is set to trim its UK operating costs by £80 million. The life and pensions division, based at the Gyle centre in Edinburgh, is facing a 25% reduction in costs.