Skandia cuts 20 sales roles

Michael Bow
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SKANDIA, the financial services firm, yesterday announced plans to cut 20 jobs from its 100-strong sales team as part of a broader cost-cutting programme which will eventually see it shed 200 jobs.

Steve Powell, sales director, said: “The new 80 strong sales team will be nimbler and more effective, with a strong leadership team.”

The company, owned by Anglo-African money manager Old Mutual Wealth, has created two new roles as part of the overhaul, a wealth management consultant role and a development consultant.

Skandia said it hoped to provide a better service to financial advisers.