Insurance firm Aviva has confirmed Sheffield will be one of its core locations after announcing potential job losses in other sites across the UK following a restructure.
The company completed a £5.6bn acquisition of pensions company Friends Life, which has created the UK’s largest insurance, savings and asset management firm.
As part of the restructure offices in several locations across the UK are due to close by the end of next year, placing hundreds of jobs at risk.
But the Sheffield office in Pear Street will remain as a ‘core location’, Aviva said.
A spokesperson for the firm said: “We have confirmed that Aviva’s core locations in the UK will be Bristol, Norwich, Perth, Sheffield and York.
“These sites will be supported by a number of specialist and trading sites across the UK. Aviva’s group headquarters will remain in London.
“We have also announced that over the next 18 months we will be closing offices in Salisbury, Stretford and Salford. There will be a reduced presence in Dorking, but it will remain a specialist site for our corporate pensions business. We will also have a reduced presence in Exeter and Manchester city centre.
“We appreciate this is disappointing and difficult news for some of our employees and we are helping our people through this process, providing a range of support and advice, and consulting with employee representative bodies about these changes. We will look to minimise the impact by offering redeployment opportunities where possible.”
Aviva said it expected the newly-merged company to generate £600m in excess cash a year and deliver £225m in annual cost savings by the end of 2017.