Standard Life has unveiled plans to cut a further 38 posts in Edinburgh, less than two months after announcing the capital would bear the brunt of 139 job losses as part of a restructuring of its UK business.
The life and pensions group has started a 30-day consultation with affected employees at its group IT and commercial function, and said the cuts were aimed at creating a “more efficient” operating structure. A spokeswoman for the firm said it hoped to avoid compulsory redundancies.
Standard Life employs some 9,000 people, of whom about 5,500 are based in Edinburgh. The job cuts announced in November came as the firm prepared for radical reform in the pensions industry, including the banning of commission to advisers.