British insurer Aviva PLC will cut as many as 2,000 jobs worldwide in the latest cost-cutting drive aimed at revitalising its flagging fortunes, a source close to the company told Reuters on Thursday.
In an internal memo obtained by Reuters, Chief Executive Mark Wilson told staff the cuts would equate to around 6 percent of Aviva Group's global workforce and reiterated a commitment to deliver more than 450 million pounds ($685.56 million) in cost savings by the end of the year.
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According to Aviva's annual report, the insurer employs around 31,200 people, as of December 31.
Aviva is progressing with a root-and-branch shake up of its business after years of spiraling costs, disappointing share price performance and an investor revolt that led to the departure of former chief executive Andrew Moss in 2012.
Chairman John McFarlane sought to appease angry investors with a comprehensive strategic review last July, which called for the sale or closure of more than a dozen underperforming and non-core business units. ($1 = 0.6564 British pounds)
(Reporting By Anjuli Davies and Sinead Cruise, editing by Kirstin Ridley.)