Insurer IAG cost cutting include job losses

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Insurance Australia Group has announced a range of cost cutting measures including a redundancy programme that would result in axing of middle management jobs across its direct insurance division (NRMA, SGIC, SGIO)

Staff employed in the companies joint venture with RACV are not affected according to NRMA spokesman Andrew Tubb.

In the 12 months to the end of June 2008, IAG’s total Australian workforce was cut by 276 to 9909.

IAG group spokeswoman Emma Foster said the latest round of job cuts would deliver additional savings to the company.

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