Admiral insurance firm to cut 500 jobs in the UK

Admiral Insurance plans to cut 500 jobs across its UK operations as part of a drive to save £100 million, the company announced. The reductions relate solely to Admiral’s UK insurance business and will affect roughly 5% of its workforce. “We recognise this volition beryllium a hard clip for affected colleagues,” said Alistair Hargreaves, Admiral Insurance UK's main enforcement . While the Cardiff-based firm employs artificial intelligence in its operations, the adoption of AI is not considered responsible for these changes. Admiral said the job cuts will make the business "faster and much efficient". Earlier this year the insurer stated it needed to save £100 million, and it described the planned redundancies as part of that cost‑cutting initiative. “These changes are aimed astatine making america faster and much businesslike truthful we tin proceed to present large lawsuit outcomes,” said Hargreaves. Employees who are selected for redundancy will receive enhanced severance packages and, where possible, be offered redeployment opportunities. Hargreaves said Admiral was also “making a important concern successful meaningful enactment to assistance colleagues see aboriginal options”. Read the full story at BBC News →