RSA to slash 300 jobs as part of cost-cutting drive

RSA has announced it is aiming to reduce its employee count by 300 as part of its cost-cutting measures outlined on 30 July in its interim results report.

In a statement yesterday, the insurer it was announcing ”a range of measures including a voluntary redundancy programme open to applications from all employees, as well as an opportunity for employees to request reduced working hours.

”The intention is to reduce the size of the organisation by around 300 full time roles from current levels.”

It said the cuts are necessary ”to take account of premium reductions occurring as a result of exits and an uncertain economic climate”.

Other measures include a review of physical office space as more employees work from home, it said, and a reduction in data centres in favour of more cloud-based storage.

Commenting on the job cuts, chief executive Scott Egan said the company was committed ”to making sure RSA is in the best possible shape to be there for our customers in a more uncertain future.

”These are difficult times for all businesses, and it is important we take the actions we need to remain competitive.

“RSA’s operating costs in the UK are a long-term challenge. We are taking a range of actions to reduce them over time, including rethinking our physical office space, modernising our IT infrastructure, and simplifying our products and services.

“We also have to take difficult decisions that will impact our people, including offering a programme of voluntary redundancy to our employees based in the UK. These are not decisions we take lightly, and we will do as much as we can to support our people throughout.

“Our overarching goal remains to create a business that is able to thrive in the future for our customers and our employees.”