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Legal & General has a distinctive culture which, I think, serves our customers and shareholders well. It's about putting the customer first, about providing value for money, about close attention to risk management and about teamwork. These are the values by which, I believe, our employees live and I believe they are the right values in the more difficult economic climate in which we now find ourselves. A climate in which trust matters more than ever; trust between Legal & General and its customers and trust between Legal & General and its employees.
We work hard to make sure we provide our employees with the right skills to enable them to work effectively. In 2008, we undertook a range of new training initiatives and also improved our employee communications to help staff understand the overall direction of the business better.
Employees know that times are tougher. They know we have to look very carefully at how we match our resources, including people, to business needs. This can sometimes mean taking hard decisions, including decisions in relation to staffing levels. When we make these decisions, we do so following thorough analysis and after consultation with our employees and their representatives. This is part of our duty as a responsible employer and as a company with a long term view.
Through good times and more difficult times, it is our aim to deliver a high-performing organisation, which is rooted in the strong culture and values that have stood us so well for so long.