Prudential is to consider cutting as many as 3,000 jobs in a bid to lift ailing profits in the UK, according to sources.
Speculation arose after the insurer posted its full year results and dramatically upped its UK cost-cutting target to £195m from £115m previously.
News agency Bloomberg reported the company may cut 2,000 jobs in the UK and a further 1,000 in India. It cited slowing sales and a 5.1% fall in second-half profit. Full year profit rose, however, by 15%.
