NU jobs at risk despite increase in sales

Norwich Union today reiterated its plans to cut hundreds of jobs in Norwich - despite unveiling a big increase in sales of its long term savings products.

Norwich Union today reiterated its plans to cut hundreds of jobs in Norwich - despite unveiling a big increase in sales of its long term savings products.

NU's parent company Aviva angered unions and staff last week when it announced plans for a fresh round of job losses to shave £350m off running costs.

The job cuts come on top of a plan to cut 850 roles in Norwich and follow announcement of hundreds of additional job losses in the firm's IT and marketing departments.

Today the company reported a 26pc increase in worldwide sales of long term savings products up to £28.2bn in the nine months to the end of September, up from £22.7bn a year earlier. In the UK sales were up 5pc to £10.9bn from £10.4bn a year earlier.

Norwich Union Life chief executive Mark Hodges said staying stable and static was not an option.

And he said new technology and changing customers trends meant the company was likely to need fewer staff in years ahead.

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