Tough time for staff as Peterborough’s BGL Group looks to cut jobs
Staff at Peterborough insurance giant BGL Group face an anxious wait after the company revealed 116 city jobs are at risk.
The redundancy threat comes as the digital provider of insurance and price comparison services looks to restructure its operations.
The company, which has its headquarters in Bakewell Road, Orton Southgate, has embarked on a 45 day consultation period with it staff.
It has also placed a further 134 jobs at risk across its other UK offices.
The BGL Group, which welcomed new chief executive Mark Bailie just seven months ago, says the aim of the restructure is to ensure staff are closer to customers and in order to reduce hierarchy within the business.
About 1,900 people are employed in Peterborough by BGL, which also has a call centre in Bretton, which is not impacted by the proposed changes.
In addition, it employs about another 1,000 staff at offices in Sunderland, Wakefield and London.
A BGL spokeswoman said: “BGL has today announced its intention to consult with colleagues on the proposed future structure of the business, which will place more of our colleagues closer to our customers.
“We understand that any proposed change can be unsettling and we will be working with colleagues throughout consultation and are committed to supporting everyone throughout the process.”
North West Cambridgeshire MP Shailesh Vara said: “This is deeply disappointing news and especially given the very large number of people affected.
“I have spoken with BGL and they have assured me that they will do everything possible to help and assist those affected with a view to helping them find new employment.
Mr Vara added: “As the economy slowly picks up I very much hope that their search for a new job will be very brief.”
The BGL Group was ranked fifth in the Sunday Times Top Track 250 league table last September for best sales performance .
During the financial year to the end of June 2109, it had sales of £714 million and profits of £172 million.
The company operates some of the best known brands in Britain including BeagleStreet.com and the price comparison website comparethemarket.com