Direct Line poised to cut 2,000 jobs despite surpassing cost-saving target
Direct Line Group is poised to cut a further 2,000 jobs as part of the next stage of its restructuring bid despite exceeding its cost-saving target.
The insurer today confirmed that the net reduction in annual costs made of some £130m, compared to its 2011 base of £1.13bn, represented gross annual savings of "more than twice the original £100m target".
However, Direct Line confirmed that as part of "further initiatives" another tranche of roles may become redundant.
It stated that the majority affected will be in roles across head office and support functions and consultation with staff has already begun.
A spokesperson insisted that the
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