Aviva To Eliminate About 1,800 Jobs Over Next Three Years

(RTTNews) - Aviva plc (AV.L, AV) said Thursday that it will cut about 1,800 jobs across the group over the next three years, as part of its efforts to save 300 million pounds per year. The company employs about 30,000 staff in total.

Maurice Tulloch, chief executive officer, said he does not take the job loss lightly and will take all possible steps to minimzse redundancies and support the company's people.

The company plans to reduce expenses by 300 million pounds per annum by 2022 through job reduction, savings in contractor, and consultant spend, reduction in project expenditure and other efficiencies.

Meanwhile, Aviva noted that the trading year-to-date has been broadly consistent with 2018.

Aviva plans to separately manage life and general insurance businesses in the UK, with the digital direct business integrated into UK General Insurance.

The company also appointed Angela Darlington as interim chief executive at UK Life, and Colm Holmes as General Insurance's chief Executive Officer.