Legal & General to Cut 1,000 Jobs to Simplify Operations

Legal & General Group Plc plans to reduce its workforce by approximately 10 percent, or around 1,000 positions, by the middle of 2027. CEO António Simões announced the cuts on Wednesday, stating the company has become too complex over the last decade and must become a leaner organization to successfully deliver its strategy.

The restructuring will initially focus on voluntary redundancies for employees in the United Kingdom. The company has not ruled out compulsory layoffs if these targets are not met. These cuts exclude the asset management division, which underwent a separate restructuring last year.

This move follows a broader transformation since Simões took over in early 2024. That process included slimming the company from four businesses to three core divisions and selling non-strategic assets such as Cala Homes. Legal & General intends to consult with unions during the process and aims to refocus investment on long-term growth opportunities.