Aviva shares flat despite 2,000 jobs cut

<p>2,000 Aviva workers will lose their jobs.</p>

The share price of Aviva is flat today (April 18th) despite the news the insurance firm is going to be making 2,000 members of staff redundant.

Staff members in the UK, Europe and Asia will lose their jobs, it was confirmed by the firm.

Mark Wilson, group chief executive officer, conceded that while the news is difficult for employees, the job losses are needed in order to help Aviva stay "competitive".

From May this year, staff will also have their redundancy pay capped at 78 weeks, which is a cut from the 104 currently in effect. Consultations with unions and staff are set to be held before the number of job losses in the UK is finalised.

"Aviva needs to become a more efficient and agile organisation to unlock its potential," said Mr Wilson.

At 15:30 BST, Aviva's share price was at 293.71, just 0.43 per cent down on the start of the day. Stocks were only 1.26 lower overall.

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