133 jobs at risk in Towergate restructure

Redundancies are part of the company’s plan to reform its finance teams

133 jobs at risk in Towergate restructure

Insurance News

By Louie Bacani

Major broker Towergate Insurance has placed 133 jobs at risk as part of its plan to restructure some central finance processing teams.
The redundancies would be in Towergate’s team based in Leeds Airport West and in its Maidstone headquarters, where 67 workers could be dismissed.
Towergate will hold a 45-day consultation period for the affected staff and another 15 days for individual meetings, according to a report by Kent Online.
In a statement, the company explained the planned restructure, saying it “continues to focus on creating a finance function doing the right work in the right places and on building a sustainable, fit for future backbone to a transforming business.”
“We will now focus on making every effort to ensure that staff affected by this proposal are given all the support they need during this time of uncertainty,” Towergate was quoted as saying in the report.
In January, Towergate also placed 176 jobs at risk in its Manchester operations, although dozens of employees were transferred to sister firm Autonet Insurance.

Towergate is expected to further explain its restructuring plan and potential job cuts on Thursday when it reveals to investors its 2016 full year results.

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