We use cookies to improve this site and enable full functionality. You can change your cookie settings at any time using your browser. Our cookie policy.

Confirmed: Markerstudy opts for redundancy plan 'despite all efforts'

Confirmed: Markerstudy opts for redundancy plan 'despite all efforts' | Insurance Business

Confirmed: Markerstudy opts for redundancy plan

It looks like Markerstudy has done all it could, only to end up proposing a redundancy programme for an undisclosed number of employees.

“Within a matter of weeks COVID-19 had made a huge impact on our organisation, which includes leisure and hospitality in addition to insurance and associated businesses,” said a spokesperson for the Kent-headquartered group. “Markerstudy sought support from the government’s Coronavirus Job Retention Scheme, allowing us to retain employees at that time who would otherwise potentially have been at risk.

“Markerstudy has worked with staff to try and minimise, insofar as possible, the significant impact of the coronavirus pandemic on every area of our business, but despite all our efforts, it has continued to impact our group resulting in changes to our business models and the necessity to embark on a redundancy consultation exercise.”

The statement comes following reports saying nearly 500 Markerstudy colleagues will be let go. The firm, however, did not confirm the figure and also did not provide an approximation.

“Sadly,” the company representative went on to say, “Markerstudy has not been alone in having to consider all available options and take immediate action. As we have now announced the proposal for a redundancy programme with employees, it is not appropriate for us to comment further.”