EMPLOYEES WORLDWIDE
9,324
Average number of employees
during the year. (2008: 9,777)
It has been a challenging year at Legal & General as it has for the UK financial services industry as a whole. We have had to make changes to address these challenges, recognising that our operating costs needed to be decisively lowered; savings of £69 million have been achieved. In many parts of the business redundancies have resulted from these difficult decisions.
Support and assistance in finding a new role was provided to all employees facing redundancy. Unite, the Union with which we continue to have a strong relationship, was fully consulted and involved throughout this difficult process, as was our Managers’ Consultation Forum (MCF). It is a credit to our staff that they have continued to perform so effectively during such a challenging period.
As outlined in last year’s report, we anticipated further economic contraction in 2009 and set challenging cost reduction targets which reflected the increasing need for efficiencies. These targets have been achieved without a negative impact on customer service.
