Mass Job Losses At AMP

AMP, the Australian financial services company that owns Pearl Assurance, NPI and Towry Law have announced massive job cuts in the UK.  Most of the job losses will come from Pearl Assurance's direct sales force of 1000.  This is in addition to their 750 support staff.  Another 300 jobs will go from AMP's own adviser network, together with another 150 other staff.  AMP is thought to be replacing their employed advisers with self employed advisers and the savings will be about £160m.  The recently appointed Chief Executive of AMP, Andrew Mohl cited the equity market problems and changes in the financial services industry as reasons for the changes.  Mr Mohl said "we have no choice.  We will do everything possible to minimise the number and consequences of redundancies".  Search the archive for previous AMP news.  Learn about redundancy in the Redundancy Adviser.com.  Why not try our redundancy calculator ?