PENSIONS firm Scottish Widows is to axe 130 jobs across the UK as part of a plan to restructure the business.
The Edinburgh-based company said it was adopting a new model to ‘better support customers and advisers moving forwards’.
As part of the restructuring, around 45 new roles will be created in the capital and also in Bristol.
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Ronnie Taylor, the company’s pensions and investments director, said: “We are currently seeing unprecedented change in the pensions landscape.
“As a result of this we have reviewed our structure and are making changes to better support customers and advisers moving forward.
“The changes will introduce better specialisation, expertise and support across the markets we serve to help support customers as they plan for their retirement.
“There will be around 130 role reductions across the UK, as part of the reductions recently announced in Lloyds Banking Group’s strategic update.
“Around 45 new roles will be created in Edinburgh and Bristol, as part of the new structure.”
The cuts are part of Lloyds Banking Group’s plans to cut 9000 jobs over the next three years.
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