Direct Line is making 2000 staff redundant – most of whom currently work in its Bromley headquarters, and some in Croydon. The insurer is cutting 14% of its workforce in all.
Unite – who Direct Line doesn’t recognise – called the job losses
a savage bolt from the blue, and said it would support individual union members as far as it could.
Royal Bank of Scotland still owns almost half of the Direct Line. But it was a condition of its taxpayer bailout in 2008 that it sold its stake by the end of 2014. Of course, RBS still paid out £607 million in bonuses last year – claiming it would’ve paid £500m more if it hadn’t been for the Libor scandal. Well that’s okay then!