27 May 2018

Prudential to shut down Egg HQ as jobs move to India

27 April 2006  |  11545 views  |  0 egg

UK insurance group Prudential is shutting down the London head office of its Internet banking operation Egg.

The office, which is at Prudential's former headquarters in Holborn, employs 120 staff who work in treasury and support and shared services. Prudential says these roles will be relocated in other London offices.

The office is one of three sites being closed by the insurer under plans to move 700 jobs to India and other parts of the UK.

As well as the Egg office, Prudential says it will close sites in Belfast, where it employs 500 mainly call centre staff. Its human resources office in Bristol which employs 40 staff is also set to close.

Nick Prettejohn, chief executive of Prudential UK and chairman of Egg, says: "These reorganisation proposals are an important step in delivering the cost savings that will enable the UK business to continue to build on the strong positions we have established across the financial services market."

The reorganisation is part of the £40 million-a-year cost-saving initiative announced in December last year when Prudential said it was buying the 22% stake it didn't already own in Egg. The group originally put Egg up for sale in January 2004 but failed to find a buyer for the business.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Egg founders form online data management venture

Egg founders form online data management venture

26 April 2006  |  6538 views  |  0 comments
Egg chief Gratton steps down

Egg chief Gratton steps down

31 January 2006  |  5989 views  |  0 comments
Prudential to buy out Egg

Prudential to buy out Egg

01 December 2005  |  6812 views  |  0 comments
Prudential decides to keep Egg

Prudential decides to keep Egg

26 October 2005  |  5466 views  |  0 comments
Egg to launch m-banking service with O2

Egg to launch m-banking service with O2

27 September 2005  |  7312 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit aciworldwide.webex.comVisit www.vasco.com/news/mobile-firstVisit www.niceactimize.com

Who is commenting?

Top topics

Most viewed Most shared
satelliteAnt Financial provides tech for China Ever...
29110 views comments | 3 tweets | 2 linkedin
Digital banking transformation creating new systemic risksDigital banking transformation creating ne...
8962 views comments | 18 tweets | 26 linkedin
MUFG to roll out blockchain payment network next yearMUFG to roll out blockchain payment networ...
7632 views comments | 13 tweets | 13 linkedin
There are some things you just can't do with an appThere are some things you just can't do wi...
6909 views comments | 9 tweets | 15 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job