Legal & General Plans 1,000 Job Cuts Amid Underperformance
1 report, 1 independent
Updated Sep 23
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What happened
Legal & General Group Plc plans to reduce staff numbers by approximately 1,000 jobs, or about 10%, by the middle of 2027. CEO António Simoes stated the cuts are part of a strategy to simplify the financial group and strip out costs. On September 23, 2026, Legal & General's shares were down 0.8%, while the wider FTSE 100 index dipped by 0.2%.
From aol.com
Why it matters
The planned cost reductions are intended to improve performance and deliver bigger returns for shareholders. The underperformance of Legal & General shares relative to rivals like Aviva has fueled market speculation that the company could become a takeover target.
From aol.com
Who's involved
- AvivaRival company whose performance is used to benchmark Legal & General Group Plc
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The entities involved
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Aviva
British insurance company