UK/ASIA - Henderson Global Investors is set to shed 100 jobs as part of a cost-cutting programme by its parent AMP.
Staff will be told which areas will be affected by the end of the month, but the majority of the cuts will come from its administration, distribution and support arms.
Henderson is also looking at other measures to cut costs, such as offering staff sabbaticals, cutting working hours and “providing more holidays”.
Insurance giant AMP plans to cut around 6% of Henderson’s worldwide workforce because of volatile market conditions at present.
Henderson will scale back its Japanese operations, its global product line-up, and cut back its distribution activities in Hong Kong. All of its Asian businesses will be run out of Singapore.
AMP has injected more than £1.5bn into UK subsidiary, Pearl Assurance, since June.
This has fuelled speculation that it may have to sell Henderson – what the industry calls the “jewel in the crown” – so that it can prop up its struggling insurance arms with fresh capital.
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