British insurer Aviva has announced that it is to cut 1,800 jobs worldwide over the next three years and split its business into two.
Aviva has offices in 16 countries and a global workforce of 30,000 people, with 16,000 employees in the UK.
The firm’s UK sites include London, Norwich, York, Dorking, Bristol, Perth, Sheffield, Eastleigh and Glasgow.
The insurer intends to split its life and general insurance businesses and manage them separately.
The move is part of plans to “simplify” the company to make it “more competitive”.
Aviva said that it intended to consult its operations in each country over the job cuts, and look to make savings through natural turnover and voluntary redundancies.
Chief executive Maurice Tulloch said that the insurer’s “complexity” had held back its performance “for too long”.
“Today is the first step in our plan to make Aviva simpler, more competitive and more commercial. We have strong foundations: excellent distribution, world class insurance expertise, and our balance sheet is robust,” he said.
“But there are also clear opportunities to improve. Reducing Aviva’s costs is essential to remain competitive and this means tough decisions and job losses which I do not take lightly. We will do all we can to minimise redundancies and support our people through this.”