Hundreds of Bristol insurance workers sacked
Five hundred staff at the Bristol offices of insurer Royal Sun Alliance (RSA) were told this morning that they are to lose their jobs within the space of 12 months.
The Scottish based insurance company informed its stunned staff based in its city centre offices about the job losses at a series of meetings earlier today.
The firm had announced earlier this year that it was shedding 1,200 from its 8,000 UK workfiorce with the aim of saving £70 million but the first blow has fallen in Bristol.
RSA currently operates from its West Gate offices in the city centre but the entire operation is to close by the middle of next year. Around 400 full-time posts are being lost but the move will affect 500 people.
Today’s announcement is the biggest single number of job losses announced in Bristol since the start of the recession.
The company has been at pains to point out that it will continue to have a small office in the city employing around 40 people working for its commercial brokers division.
Adrian Brown, the chief executive of the firm, said: "Decisions like this that affect our people are always difficult.
"We have made the announcement at this early stage to maximise opportunities for staff to find alternative employment, either within the company or outside.
"Our people are highly skilled and we will give them all the support we can to help them find new jobs”
But unions are still disappointed at the announcement as this year the company made a profit last year.
One official from the Unite union said: “We have been involved in consultation with the company and both parties remain committed to mitigating the consequences of this decision.
"Our immediate priority is to communicate with our representatives and members. We will oppose any compulsory redundancies.”
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by Sasha, Bristol
Friday, April 24 2009, 11:08AM
“What a sad day. I'm so sorry to hear about this, and I just hope that the people who have been made redundant manage to find new posts without too much delay or difficulty.
Maybe, in hindsight, it wasn't such a good idea for this city to put so many of its eggs in the financial services basket.”
by AdrianCavill, Bristol
Thursday, April 23 2009, 10:57PM
“Bad News indeed.
If its any help, I'm recruiting in Bristol just now; Insurance &/or Sales People especially. See main banner on Best of Bristol web site or Google me perhaps to make contact.
And Good Luck!!”
by Alex, Redcliffe
Thursday, April 23 2009, 9:00PM
“Liam - Mark has a point. The company will probably not go out of business if they retain these staff. What they are doing is keeping investors happy by maintaining profits. They are probably losing money through sales and so need to make money somewhere else, i.e. cost cutting. It is a shame. Making a profit is one thing, but chasing increased profits is when problems like this happen and it is unecessary.”
by shanice, bristol
Thursday, April 23 2009, 8:27PM
“i work for royal sunalliance bristol and have been made redundant as well today. I am very sad that RSA have made this decision. There are other jobs in the bristol area, but are there enough to go round the 500 employees that will soon find themselves out of work? this is what is worrying. we will all be fighting for the same jobs.”
by Nick, Bristol
Thursday, April 23 2009, 7:41PM
“You don't have to be a rocket scientist to work out why all the job losses are in Bristol and not Peterborough - the lease on the Westgate building runs out next year so what better time to close it all down!”
by Andy, Clifton
Thursday, April 23 2009, 7:34PM
“I worked for RSA for 15 years in Phoenix House on Redcliff Hill, they made over 500 of us redundant in 2003 so I know how it will effect them. Even more so now with the current climate and jobs not easy to come by”
by kayleigh, Bristol
Thursday, April 23 2009, 7:24PM
“I am one of the staff that was made redundant today.
I have a young son and I am worried about finding a new job in Bristol at the moment with the recession”
by Pogo the Clown, Not so hopeful
Thursday, April 23 2009, 3:35PM
“Sadly, it'll go up. With fewer staff, they'll make more mistakes, which'll drive up their overheads.
Well, here's hoping this will allow them to leverage their syngergies and focus on their core business, helping the customer.”
by steven, germany
Thursday, April 23 2009, 1:53PM
“maybe the cost of insurance will go down now”
by Fred T, californial
Thursday, April 23 2009, 1:44PM
“lliam. Obviously you have never been involved in running any kind of business. If RSA is only using the recession as an excuse to make 500 redundant, not sack, they did not need them to begin with. How could you possibly know that ,for them, this is a mistake.
Mark. I agree with you. It is sad, but its better than having the other 6,800 lose their jobs if RSA failed.”