Standard Life announces 1000 redundancies and demutualisation plan
Standard Life today said that demutualisation is the best option to address the issue of capital constraints and it is in the best interests of the company and its policyholders. The mutual also announced plans to reduce costs by reducing its headcount by 1000 by the end of 2004.
In a statement it said: “The group will become increasingly capital constrained and will require access to further external capital in the years ahead. The board is satisfied that, in principleOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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