FORMAL CONSULTATIONS
Liberty insists its organisational redesign is not about job cuts
SA’s third-largest life insurer says it’s too early to determine the effect on jobs
Liberty, SA’s third-largest life insurer which has been losing market share in a tough market, is talking to staff amid concern that its "organisational redesign" will result in hundreds of job losses. While the group, which was hit by a data breach earlier in 2018, had begun formal consultations with its staff, it was too early to determine the effect on jobs, the company said. "We are unable to provide details around job implications at this stage as we are currently engaged in a consultation process and the new organisational design process has not been completed. "Our intent regarding this process is to realign our focus and improve the way we work and not about job cuts," the company said in response to Business Day.
Moneyweb said that more than 800 jobs could be lost. The company, which is 54% owned by Standard Bank, is in the middle of a turnaround strategy, launched in 2017 after the appointment of David Munro as CEO, as it seeks to claw back business lost to competito...
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