Saga confirms internal review will lead to job cuts

Saga in Ramsgate

An internal review at over 50s firm Saga, which has a base at Ramsgate, will lead to job losses.

A trading report from January 28 said the company continues to focus on ‘disciplined execution of the strategy set out in April.’

A drive for efficiencies was launched due to “a backdrop of a challenging external environment in Insurance and Travel.”

The trading update adds that the company still has “much to do to continue to improve capabilities in all areas of the business and to respond to changing customer behaviours, across both Insurance and Travel.”

A statement from the firm, which employs around  3,000 people, confirmed there will be job cuts but has not yet revealed how many.

The trading update reveals the administration of Thomas Cook i resulted in approximately £4 million of one-off costs for Saga.

A spokesperson for Saga said: ““As part of its strategy to improve performance, Saga previously announced plans to look for efficiencies across the business and has now started an internal review of structures which is expected to lead to job cuts.

“The key focus of the review is on improving the service we provide to customers and members. Where possible, these job cuts will be achieved through voluntary redundancies. We appreciate that this will be a difficult time for all of our colleagues, and we are focused on ensuring that they receive all the support they need.”

Staff were told of the review today (February 7).

The cuts follow around 100 job losses announced at the end of 2017.