Allianz has put 97 people under the threat of redundancy as it looks to close its Woking and Luton branches.
The insurer said that changes to local market dynamics and the need to evolve in a competitive environment are the key drivers behind the decision.
Allianz detailed that employees in both offices have been briefed and the business will now enter a 45 day collective consultation process to discuss the proposals. It is anticipated that 49 employees in Woking and 48 employees in Luton will
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