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Jobs in jeopardy at Friends Provident International

 

MORE finance sectors jobs could be lost as Friends Provident International announced it is conducting a global strategic review of its operation.

There are more than 260 staff at Friends Provident International’s Royal Court offices in Castletown.

Friends Provident International said its global strategic review of operations would lead to a ‘gradual realignment of some staffing needs’ closer to its key markets in Hong Kong, Singapore and Dubai, where the company already has established bases.

These changes will result in ‘some reduction in total employment’ in both the Isle of Man and Salisbury offices, it added in a statement.

So far, six people have left the company, from the learning and development department, with a further two redeployed to other roles within the organisation. Some areas of the marketing department are currently under review.

At this stage, no decisions have been taken on any further changes to employment needs.

Jonathan Hall, Isle of Man general manager and director, said: ‘Like all companies in the financial services industry, FPI competes in a challenging global climate. We are proactively realigning our internal operations to meet the needs of business partners and customers. Though the review will result in some new roles being created, it has also identified the need to change and in certain cases reduce the number of positions, as we seek synergies across the group.

‘As an Isle of Man regulated-entity and a major international life assurance company, we are confident this reconfiguration will ensure the future growth of FPI within the international division of the Friends Life Group.’ He added: ‘There are over 260 employees in the Isle of Man office and we genuinely care about their welfare and development. We are working closely with the affected individuals to actively support them at this time.’

 

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