Employees 'shocked' after 50 jobs slashed at Edinburgh firm

·2-min read
Standard Life is based in Edinburgh Picture: Phoenix Group
Standard Life is based in Edinburgh Picture: Phoenix Group

Standard Life has cut 50 jobs in Edinburgh.

One worker at the firm, which is now part of insurer Phoenix Group, said staff walked out crying when they received the news.

Earlier this year Phoenix announced record cash-generation of more than £1.7 billion in 2021.

In 2019, Phoenix Group strengthened links with technology and service provider TCS to create a ‘single digital operating platform’ for Standard Life.

Phoenix said at the time that a number of SLA employees would eventually transfer to Mumbai-based TCS.

Staff have now been told 50 roles in its customer services department will be transferred to Diligenta, which is owned by TCS, in the first quarter of next year.

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The worker, who spoke on condition of anonymity, said more job cuts were feared.

They said: “Everyone affected is very scared at the moment, not to mention very demotivated.

“There was a lot of shock, there were people walking out crying, there was a lot of anger as well, especially those who have perhaps worked at the company for 30, 40 years – they feel let down.

“It was a very, very prestigious place to work, very renowned for everything, and now it just seems like ever since Phoenix bought the brand, it's just all been moving away very slowly from Edinburgh.

“A lot of people are worried, especially those who've got mortgages to pay.”

A spokesperson from Standard Life said: “As our business grows it’s vital that we modernise and future-proof our systems and digital infrastructure to make sure that the people delivering the service to customers, day-in day-out, are equipped with the best possible tools and systems to enhance the experience they provide.

“By partnering with one of the world’s leading digital transformation organisations, our colleagues will continue to deliver the same excellent customer service that Standard Life is known for and be part of a business dedicated to service advancement and digital innovation.

"Where roles are not transferring to TCS and Diligenta, we are committed to working with all affected colleagues to ensure they have the support necessary to secure their future, whether inside or outside of the organisation.”

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