Direct line to axe hundreds of jobs – London Business News | Londonlovesbusiness.com

Direct Line Group are to axe 550 jobs to save £50 million next year and create are more “efficient operating model.”

The insurance company said some of the roles being reduced also include vacancies that are no longer being filled.

The company said the turnaround is to “drive to create a leaner and more efficient operating model is advancing.”

Chief executive Adam Winslow said, “We are in the early stages of a significant turnaround and our third quarter trading is not yet fully reflective of the actions we have taken.”

He added, “We believe the steps we are taking will position the company for enhanced profitability and growth.”