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Prudential jobs deal with Capita | |
(about 10 hours later) | |
Hundreds of jobs at the Scottish base of financial giant Prudential will be transferred to Capita in a £700m deal. | |
About 1,000 staff working at Prudential's Craigforth site near Stirling are amongst those moving. | |
The company announced in March that 3,000 of its UK jobs were under review after it raised its UK cost-cutting target to £195m. | The company announced in March that 3,000 of its UK jobs were under review after it raised its UK cost-cutting target to £195m. |
This move ends a six-month wait for Prudential staff. The deal is part of an effort to cut costs by almost £200m. | |
About 2,300 full-time staff are employed at the Craigforth base. | |
Capita will now look after Prudential's mature life and pensions business including company and individual pensions and life and endowment policies. | |
Capita is Britain's biggest back-office firm and will also take over 750 Prudential jobs in Reading and 1,250 based in Mumbai. | |
The jobs are expected to transfer by April next year. | |