Aegon's UK arm has confirmed that 200 training jobs have been done away with in Scottish Equitable training department, following restructuring of the company. 800 training staff will remain. The restructuring has also meant the closure of 11 offices.
Aegon commented: "the redundancies reflect the changing needs of the financial services market. Our training programmes are under continual review and that will not change, but what has changed is the fact we are now structured differently".
Our View
Aegon made no bones about telling the industry that it wanted to be a top five player and would restructure to achieve it. As we can see from these redundancies, Aegon is one of the many companies streamlining by introducing new technology in an attempt to save on costs.