Skandia axes 200 jobs (From Hampshire Chronicle)
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Skandia axes 200 jobs including many at Southampton headquarters
10:27am Friday 12th October 2012 in Hampshire Business
By Jon Reeve, Education Reporter
Skandia House
FINANCIAL services giant Skandia has announced it is to cut another 200 jobs.
Most of the staff to be axed work at the firms UK headquarters in Southampton.
Staff at the offices have today been told the firm is merging its non-Scandinavian operations into a single business - named Old Mutual Wealth - and redundancies will be in areas of overlap.
Skandia said a review has also shown some roles are no longer necessary because “improvements in business processes” have reduced the need for manual work.
The firm said although the majority of jobs being cut are in Southampton, Old Mutual Wealth “remains committed to maintaining a significant presence in the city”.
Chief executive Paul Feeney said: “We know this is difficult time for our staff, so we will make these changes as quickly as we can to give them clarity about the future and to ensure there will be minimal disruption for advisers and our customers.
“The financial services industry is changing significantly as a result of changing customer needs, new regulation and advances in technology.
“We have to change too if we are to continue to be a leading provider of wealth management solutions and a major employer in the area.”
Today’s announcement comes a year after Skandia revealed it was cutting 86 jobs at its Southampton offices.
That move – which saw one in 20 workers at its city headquarters leave the finance company – itself followed the loss of another 150 posts a year earlier.
Comments(22)
arthur dalyrimple
says...
10:34am Fri 12 Oct 12
chunky_lover
says...
11:20am Fri 12 Oct 12
Beer Monster
says...
11:22am Fri 12 Oct 12
Independent Thought
says...
11:29am Fri 12 Oct 12
The number of redundancies announced over the last few weeks by the City Council, B&Q, British Gas and now Skandia; over 1,000 by my reckoning.
Big impact on the city; where are the new jobs going to come from as the private sector appears to be getting rid of jobs just as fast as the public sector.
MGRA
says...
11:58am Fri 12 Oct 12
Independent Thought wrote:um, no you are wrong actually. The private sector is currently trending +ve as a net employer. Financial services was always going to contract since the industry is tarnished and people are tending to avoid "financial services" if they can. B&Q needed to re-structure, anyone visiting any of their stores could see that coming, plus their fitten kitchens service has a very bad name these days and instead of being a good earner its underperforming. The council is now labour run so recent job losses will just be the tip of the iceberg, once they start spending on library signs in 2000 different languages, they will soon be shedding more jobs....
This is getting to be quite scary stuff!
The number of redundancies announced over the last few weeks by the City Council, B&Q, British Gas and now Skandia; over 1,000 by my reckoning.
Big impact on the city; where are the new jobs going to come from as the private sector appears to be getting rid of jobs just as fast as the public sector.
Georgem
says...
12:11pm Fri 12 Oct 12
Independent Thought wrote:2 companies reporting job losses. That doesn't mean the entire private sector is getting rid of jobs. I don't understand why people freak out like this every time some redundancies occur. No matter what the economic situation as a whole, redundancies happen. It's rarely pleasant for those made redundant, but it doesn't automatically spell doom and gloom for the rest of the country as a whole.
This is getting to be quite scary stuff!
The number of redundancies announced over the last few weeks by the City Council, B&Q, British Gas and now Skandia; over 1,000 by my reckoning.
Big impact on the city; where are the new jobs going to come from as the private sector appears to be getting rid of jobs just as fast as the public sector.
Maine Lobster
says...
1:06pm Fri 12 Oct 12
Georgem wrote:No it doesn't mean ebery employer is getting rid of jobs, just the some of the biggest employers in the city or the surrounding area. Can't really play down the fact the economy isn't recovering and the bank bail out has crippled the majority of society.
Independent Thought wrote: This is getting to be quite scary stuff! The number of redundancies announced over the last few weeks by the City Council, B&Q, British Gas and now Skandia; over 1,000 by my reckoning. Big impact on the city; where are the new jobs going to come from as the private sector appears to be getting rid of jobs just as fast as the public sector.2 companies reporting job losses. That doesn't mean the entire private sector is getting rid of jobs. I don't understand why people freak out like this every time some redundancies occur. No matter what the economic situation as a whole, redundancies happen. It's rarely pleasant for those made redundant, but it doesn't automatically spell doom and gloom for the rest of the country as a whole.
Georgem
says...
1:20pm Fri 12 Oct 12
Maine Lobster wrote:We'd be in a lot worse trouble if we hadn't bailed out the banks.
Georgem wrote:No it doesn't mean ebery employer is getting rid of jobs, just the some of the biggest employers in the city or the surrounding area. Can't really play down the fact the economy isn't recovering and the bank bail out has crippled the majority of society.
Independent Thought wrote: This is getting to be quite scary stuff! The number of redundancies announced over the last few weeks by the City Council, B&Q, British Gas and now Skandia; over 1,000 by my reckoning. Big impact on the city; where are the new jobs going to come from as the private sector appears to be getting rid of jobs just as fast as the public sector.2 companies reporting job losses. That doesn't mean the entire private sector is getting rid of jobs. I don't understand why people freak out like this every time some redundancies occur. No matter what the economic situation as a whole, redundancies happen. It's rarely pleasant for those made redundant, but it doesn't automatically spell doom and gloom for the rest of the country as a whole.
Shoong
says...
1:26pm Fri 12 Oct 12
Maine Lobster wrote:If you can't see past the next day then perhaps you are going to say that, it's going to take patience and more importantly time.
Georgem wrote:No it doesn't mean ebery employer is getting rid of jobs, just the some of the biggest employers in the city or the surrounding area. Can't really play down the fact the economy isn't recovering and the bank bail out has crippled the majority of society.
Independent Thought wrote: This is getting to be quite scary stuff! The number of redundancies announced over the last few weeks by the City Council, B&Q, British Gas and now Skandia; over 1,000 by my reckoning. Big impact on the city; where are the new jobs going to come from as the private sector appears to be getting rid of jobs just as fast as the public sector.2 companies reporting job losses. That doesn't mean the entire private sector is getting rid of jobs. I don't understand why people freak out like this every time some redundancies occur. No matter what the economic situation as a whole, redundancies happen. It's rarely pleasant for those made redundant, but it doesn't automatically spell doom and gloom for the rest of the country as a whole.
Unless you have a magic wand, in which case get waving!
ohec
says...
2:54pm Fri 12 Oct 12
George4th
says...
4:14pm Fri 12 Oct 12
ohec wrote:It is an inescapable fact that Labour in government have twice taken us to the door of the IMF! Effectively bankrupting this country TWICE!
I wonder if all of those people that put these clowns in office are pleased with the outcome, the only thing that wants cutting is our Dave's throat. How much longer before the idiots decide to admit they were wrong and do a u turn, i thought Thatcher was mad but these idiots make her look good, to get a car going you need to put fuel in and the same applies to this country we need to invest build create jobs the exact opposite to what is happening. They say they want to reduce the benefits bill but all they are doing is increasing it, i think a 10 year old could make a better job of running the country.
>
Labour always leaves it to someone else to pick up the pieces and put it back together again!
If you want the Humpty Dumpty Labour Party back in again then you are doing an injustice to the young and the future young of this country.......
Lone Ranger.
says...
6:01pm Fri 12 Oct 12
Georgem wrote:I think that you should try and convince one of the Tory posters on this site who is obsessed with the "head burying in sand" syndrome
Maine Lobster wrote:We'd be in a lot worse trouble if we hadn't bailed out the banks.
Georgem wrote:No it doesn't mean ebery employer is getting rid of jobs, just the some of the biggest employers in the city or the surrounding area. Can't really play down the fact the economy isn't recovering and the bank bail out has crippled the majority of society.
Independent Thought wrote: This is getting to be quite scary stuff! The number of redundancies announced over the last few weeks by the City Council, B&Q, British Gas and now Skandia; over 1,000 by my reckoning. Big impact on the city; where are the new jobs going to come from as the private sector appears to be getting rid of jobs just as fast as the public sector.2 companies reporting job losses. That doesn't mean the entire private sector is getting rid of jobs. I don't understand why people freak out like this every time some redundancies occur. No matter what the economic situation as a whole, redundancies happen. It's rarely pleasant for those made redundant, but it doesn't automatically spell doom and gloom for the rest of the country as a whole.
Nicole23
says...
6:48pm Fri 12 Oct 12
Nicole23
says...
6:50pm Fri 12 Oct 12
ohec wrote:Yeah but their lot are all getting richer at the expense of the poor,why would they want to stop,imagine what it will be like by 2015.
I wonder if all of those people that put these clowns in office are pleased with the outcome, the only thing that wants cutting is our Dave's throat. How much longer before the idiots decide to admit they were wrong and do a u turn, i thought Thatcher was mad but these idiots make her look good, to get a car going you need to put fuel in and the same applies to this country we need to invest build create jobs the exact opposite to what is happening. They say they want to reduce the benefits bill but all they are doing is increasing it, i think a 10 year old could make a better job of running the country.
George4th
says...
7:49pm Fri 12 Oct 12
Nicole23 wrote:You can blame the last Labour government! They widened the gap between the rich and poor! How was that for a lasting legacy?!
ohec wrote:Yeah but their lot are all getting richer at the expense of the poor,why would they want to stop,imagine what it will be like by 2015.
I wonder if all of those people that put these clowns in office are pleased with the outcome, the only thing that wants cutting is our Dave's throat. How much longer before the idiots decide to admit they were wrong and do a u turn, i thought Thatcher was mad but these idiots make her look good, to get a car going you need to put fuel in and the same applies to this country we need to invest build create jobs the exact opposite to what is happening. They say they want to reduce the benefits bill but all they are doing is increasing it, i think a 10 year old could make a better job of running the country.
>
>
BUT, what is worse is that they let down the young by watering down the education system and leaving many without the knowledge, skills and aspirations for the future. They widened the gap between the educated and the uneducated! Yes, I know I am repeating myself from an earlier post but as a parent I am totally disgusted by the pulling of the carpet from beneath many of our young, and the future of the UK.
Georgem
says...
8:00pm Fri 12 Oct 12
Nicole23 wrote:Won't happen. People have been predicting that for decades, and the opposite appears to be happening. The jobs are changing, not disappearing.
What happens when new working processes/technology eventually put everyone out of a job.
ohec
says...
10:26am Sat 13 Oct 12
George4th wrote:And where in my post did i suggest that i wanted Labour in power, but now you come to mention it they couldn't do a worse job and before you come out with all the crap about the state Labour left us in even the Tories realise that tale is wearing a bit thin or are you suggesting that the British Labour party are responsible for the global turmoil. The first thing this country needs is to get its independence back and tell the europeans what they can do with their little club and i will vote for anybody that will give me that, but i won't accept any Tory promises that it will happen in the future as it was their lies that got us here in the first place.
ohec wrote:It is an inescapable fact that Labour in government have twice taken us to the door of the IMF! Effectively bankrupting this country TWICE!
I wonder if all of those people that put these clowns in office are pleased with the outcome, the only thing that wants cutting is our Dave's throat. How much longer before the idiots decide to admit they were wrong and do a u turn, i thought Thatcher was mad but these idiots make her look good, to get a car going you need to put fuel in and the same applies to this country we need to invest build create jobs the exact opposite to what is happening. They say they want to reduce the benefits bill but all they are doing is increasing it, i think a 10 year old could make a better job of running the country.
>
Labour always leaves it to someone else to pick up the pieces and put it back together again!
If you want the Humpty Dumpty Labour Party back in again then you are doing an injustice to the young and the future young of this country.......
ohec
says...
10:50am Sat 13 Oct 12
We are in a unique position in so much as we do not use the euro and we can take advantage of that instead of all the doom and gloom about the demise of the euro we should be rejoicing.
boilerman
says...
9:35pm Sat 13 Oct 12
ohec wrote:What would labour do, if you look at what they have said , they will still make cuts.
I wonder if all of those people that put these clowns in office are pleased with the outcome, the only thing that wants cutting is our Dave's throat. How much longer before the idiots decide to admit they were wrong and do a u turn, i thought Thatcher was mad but these idiots make her look good, to get a car going you need to put fuel in and the same applies to this country we need to invest build create jobs the exact opposite to what is happening. They say they want to reduce the benefits bill but all they are doing is increasing it, i think a 10 year old could make a better job of running the country.
southy
says...
11:48am Sun 14 Oct 12
Beer Monster wrote:There is more to come in 2 years time.
Blimey, kinda glad I didn't stay on after I contracted there a few years ago. Some of the best people I worked with there have already lost their jobs...
southy
says...
11:51am Sun 14 Oct 12
George4th wrote:The gap between rich and poor stated in the 80's under the Thatcher Government.
Nicole23 wrote:You can blame the last Labour government! They widened the gap between the rich and poor! How was that for a lasting legacy?!
ohec wrote:Yeah but their lot are all getting richer at the expense of the poor,why would they want to stop,imagine what it will be like by 2015.
I wonder if all of those people that put these clowns in office are pleased with the outcome, the only thing that wants cutting is our Dave's throat. How much longer before the idiots decide to admit they were wrong and do a u turn, i thought Thatcher was mad but these idiots make her look good, to get a car going you need to put fuel in and the same applies to this country we need to invest build create jobs the exact opposite to what is happening. They say they want to reduce the benefits bill but all they are doing is increasing it, i think a 10 year old could make a better job of running the country.
>
>
BUT, what is worse is that they let down the young by watering down the education system and leaving many without the knowledge, skills and aspirations for the future. They widened the gap between the educated and the uneducated! Yes, I know I am repeating myself from an earlier post but as a parent I am totally disgusted by the pulling of the carpet from beneath many of our young, and the future of the UK.
Of the Ilk says...
10:31am Fri 12 Oct 12
s to slag each other off!