Legal & General Group Plc (L&G), a London-based company, is reportedly planning to reduce its workforce by 10%, which translates to about 1,000 jobs, by the middle of next year. This decision is part of a broader strategy aimed at enhancing efficiency, streamlining operations, and cutting costs across the company.
The CEO, António Simões, is spearheading these efforts to streamline the British insurer's operations. This move follows previous attempts by the company to consolidate its business units.
In May 2025, L&G announced plans to merge two of its investment units to simplify its business and further cut costs. This shake-up led to an undisclosed number of job losses within its asset management division, and Howie Li, the global head of Index and ETFs, was set to depart the firm. The company combined its index funds unit and exchange-traded-funds (ETFs) division to create a more global team.
