UK insurer Direct Line plans to cut 550 jobs to save £50 million amid declining policyholders.

Direct Line Group, a major UK insurer, plans to cut 550 jobs, representing over 5% of its workforce, to save £50 million by 2025. The company, facing a 11% decline in motor insurance policyholders, aims to streamline operations for enhanced profitability. CEO Adam Winslow believes these steps will improve the company's financial health.

4 months ago
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