Direct Line to cut 550 jobs as challenges mount
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Insurer Direct Line, which is significant employer in Glasgow, has announced plans to cut approximately 550 jobs.
The decision comes as the company faces continued challenges, including a further loss of own-brand motor insurance customers.
Despite a 3% increase in average own-brand motor insurance premiums compared to the same period last year, Direct Line saw its number of motor insurance policies fall by 71,000 in the third quarter of 2024, The Guardian reports.
The company aims to achieve gross cost savings of £50 million in 2025 and at least £100m by the end of 2025 through a series of initiatives aimed at simplifying the organisation.
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