800 jobs to go in Standard Life/Aberdeen merger

Standard Life Investment and Aberdeen Asset Management will make 800 job cuts once their £11bn merger deal is finalised.

800 jobs to go in Standard Life/Aberdeen merger


The job losses are expected to be phased in during a three-year integration period and will reduce the current combined headcount of 9,000 staff.

Some offices will also be at risk of closure in cases where Standard Life and Aberdeen had bases in the same areas as the firm’s look to  “achieve cost synergies”.

The new details emerged in a Standard Life prospectus published Wednesday, which also confirmed the combined group will be renamed Standard Life Aberdeen plc and the headquarters based in Scotland.

It added that the investment businesses of both firms will be brought together in an investment sub-group which would be named Aberdeen Standard Life Investments.

The latest details on the all-share merger comes as Standard Life announced assets under administration hit £361.7bn in March 2017.


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