M&GPrudential restructure: 84 posts to be lost in Scotland

M&GPrudential, the Prudential Group’s UK business, has outlined a restructuring that will see 84 posts cut in Scotland.

Following the phased move of Wealth Solutions' workers over the next 18 months, announced in June, there will be about700 based in Stirling with more than600 in Edinburgh. Picture: Graham Flack

The firm said it was looking at a proposed reduction of 84 permanent roles in the Wealth Solutions part of the business, primarily from its Craigforth site in Stirling.

The move is set to take the Stirling workforce to just over 1,000, while the firm has about 300 people currently based in Edinburgh.

A spokesman for the firm said: "It is fundamental that we have the right structure, responsibilities and accountabilities in place across our business.

"The financial services market place is continually evolving and the demands from our customers, quite rightly, are ever increasing.

"There will be many ongoing challenges, as well as significant opportunities, and we will always seek to structure our business and adopt modern ways of working to stay at the forefront of any future developments."

The firm said it had made a commitment in June to Stirling and Edinburgh as two of its three UK locations in the future - the other being London. By 2025 the majority of the company’s UK workforce will be based in Scotland - split between Stirling and Edinburgh.

If the proposals are implemented, there will be just over 1,000 staff in the company’s Craigforth offices in Stirling. Following the phased move of Wealth Solutions' workers over the next 18 months, announced in June, there will be about 700 based in Stirling with more than 600 in Edinburgh.