Wednesday, November 13, 2024

Direct Line to axe 550 jobs under cost-cutting plan

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Direct Line Group has revealed plans to axe around 550 jobs as it looks to cut costs amid a turnaround at the insurer.

The group said it is consulting on the cuts as it seeks to save £50 million in 2025, although it stressed some of the role reductions will include vacancies no longer being filled.

Direct Line said it comes as its “drive to create a leaner and more efficient operating model is advancing”.

Chief executive Adam Winslow said: “We are in the early stages of a significant turnaround and our third0quarter trading is not yet fully reflective of the actions we have taken.”

He said trading in motor has been “challenging”.

But he added: “We believe the steps we are taking will position the company for enhanced profitability and growth.”

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