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Staff shock as Legal and General announces sale of sav...

Staff shock as Legal and General announces sale of savings arm

06 December 2017

Unite, the union representing staff at Legal and General, has today (6 December) expressed anger at the news that the company is selling its Hove mature savings business to Swiss Re. 

Staff at the Legal and General office have expressed deep shock at the news reported in the media today which may result in over 500 job losses in Hove. There was no indication that this deal was being negotiated and the union was given no warning ahead of this media announcement. 

Ian Methven, Unite regional officer said: “The news of the sale of the profitable mature savings business is an utter surprise to the loyal Legal and General workforce in Hove. There had been no warning that this sale was on the horizon and today there is total confusion across the site as staff try to digest the information of their jobs being sold. 

“Just three weeks before Christmas staff have arrived at work in Hove today to find they have been sold down river by their employer for whom many have been incredibly loyal and long serving.

“More than 500 people have today been told that their jobs are at risk and with limited prospects of similar local employment the future of hundreds of people and their families now look extremely bleak.

“Legal and General must urgently sit down with Unite representatives and divulge all of the plans. This is no way to treat a highly loyal, committed and highly skilled workforce.”

Unite is meeting with its members on the site in Hove early next week. The union is also demanding an urgent meeting with Legal and General management to fully understand the deal which has been announced today and to raise the concerns of the workforce.

There are also additional job losses as a result of this announcement in Cardiff and London.

ENDS

For further information contact Saba Edwards; 07768693 953.   

Notes to editors:

  • Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy. The general secretary is Len McCluskey.