April 18 British insurer Aviva PLC will
cut as many as 2,000 jobs worldwide in the latest cost-cutting
drive aimed at revitalising its flagging fortunes, a source
close to the company told Reuters on Thursday.
In an internal memo obtained by Reuters, Chief Executive
Mark Wilson told staff the cuts would equate to around 6 percent
of Aviva Group's global workforce and reiterated a commitment to
deliver more than 450 million pounds ($685.56 million) in cost
savings by the end of the year.
According to Aviva's annual report, the insurer employs
around 31,200 people, as of December 31.
Aviva is progressing with a root-and-branch shake up of its
business after years of spiralling costs, disappointing share
price performance and an investor revolt that led to the
departure of former chief executive Andrew Moss in 2012.
Chairman John McFarlane sought to appease angry investors
with a comprehensive strategic review last July, which called
for the sale or closure of more than a dozen underperforming and
non-core business units.