Aviva job cuts on track to save £250m by year end

Aviva's programme of job cuts, which will see 800 staff made redundant, is on track to save the insurer £250m by the end of the year, according to latest results.

Its interim management statement said the move, announced in the summer as part of a wider restructuring of the business, has removed four levels of middle management in the UK, and the programme will be extended internationally. It also confirmed its regional business layer had also been scrapped. As well as the reduction of head office staff, support activities and non-staff costs are also being cut as part of the £400m reduction. Chairman John McFarlane said: "By the end of the year we will have locked-in a run rate cost reduction of £250m and have specific 2012 and 2013 plans in p...