Prudential jobs at risk
Changes are being made
A number of roles at Prudential at Stirling have been put at risk of redundancy.
A total of 45 existing jobs within the wealth solutions business are under threat as part of an “internal reorganisation” and “modernisation”. The Observer understands around 20 of these could relate to the Craigforth office where around 1300 people work.
A number of roles will also be moved to their new Edinburgh office which is expected to open in May.
In addition Prudential has announced that 49 new roles will be created, across a number of sites including Craigforth, to improve their digital expertise.
This comes after the insurance company announced a new 10-year partnership with IT, business process and digital services firm Tata Consultancy Services (TCS). They say that this will help enhance their service for UK savings and retirement customers.
The firm are making a £250 million investment in their UK and European operations in the coming years as part of a modernisation of the business.
However, Stirling MSP Bruce Crawford says he has contacted the firm to ask about the support given to employees during these times of change.
He said: “It’s disappointing to learn that these business changes will potentially result in redundancies from posts based in the Stirling area.
“I have only recently been in touch with senior directors at Prudential to learn more about the changes they are making to their business and to find out more about the consultation process they were taking forward with staff at the time.
“I have now made further contact with Prudential to find out what support staff are getting during what must be a very stressful time indeed. I am also keen to learn more about the 49 new roles being created, and how these opportunities could benefit Stirling.”
Prudential say that they are consulting and providing support to any staff affected by their proposed changes.
A spokesperson said: “We are taking steps to modernise our business so that we remain relevant to customers and financial advisers in a digitally-led world.
“This will allow us to develop a broader range of more competitively-priced products that provide good outcomes for our customers.
“This internal reorganisation forms part of the previously announced transformation of the wider M&G Prudential business in the UK.
“Some roles will change as part of this process and we are consulting and providing support for those who may be affected by the proposed changes.”
We are consulting and providing support