Swinton to axe a third of workforce
MANCHESTER-headquartered insurance broker Swinton has announced plans to cut 900 jobs.
The company, which employs around 3,000 staff across the country, is putting 84 of its 194 high street branches under review, as well as a call centre in Norwich.
The company said the cuts will be made by the end of this year and put the restructure down to 90% of its consumers now choosing to migrate insurance policy renewals to online.
To reflect this shift in customer behaviour, Swinton also announced that it is investing £45m in enhanced IT and digital technology at its head office and contact centre in Manchester.
Gilles Normand, Swinton chief executive, said: “We are reshaping our distribution model to ensure that we continue to meet the changing needs of our customers in an effective and efficient way.
“This change is difficult for all colleagues, especially those who are directly impacted by the proposals, but is vital if we are to remain competitive in a challenging insurance market.”
He added: “Ever since Swinton started selling insurance door-to-door 60 years ago, this business has always evolved – first via branches, then contact centres and increasingly online. Our approach today, which is based on a high contact strategy, no longer meets our customers’ needs.
“While branches continue to be an important part of our multi-channel business model, we need to ensure that we can interact with customers whenever, and however, they choose.
“It therefore makes sense to continually review how we operate to ensure Swinton remains fit for the future.”
Swinton Insurance was founded in Manchester in 1957.