Aviva may cut 1,500 jobs as part of Friends takeover

British insurer Aviva said yesterday it may cut 1,500 jobs by the end of 2017 from a total workforce of 31,500 following its planned £5.6bn (€7.3bn) acquisition of rival Friends Life.

“We appreciate that this news may be disconcerting for employees and we would look to ensure that any redundancies are kept to a minimum wherever possible, by using vacancies and natural turnover,” an Aviva spokesman said.

Aviva published the prospectus for the agreed takeover yesterday. Shareholders can vote on the deal on March 26 and Friends Life shares will de-list by April 13 if it goes ahead.