As part of a major strategic shakeup, St. James's Place has announced that it will be making a sixth of its corporate staff redundant in the coming months.
It's a move that will save the Cirencester-headquartered but London-listed company up to £200 million, forming part of its wider strategy to make savings that could amount to £500 million by 2030.
Though the layoffs won't affect the firm's financial advisors — of which there are around 4,800 located across the country — 500 members of its 3,200 corporate workforce are being targeted at this time, under the direction of CEO, and one of SoGlos's 50 most influential individuals in Gloucestershire, Mark FitzPatrick.
Announcing the plans via an internal memo, the note finished by stating that the firm is 'fully committed to supporting all potentially impacted colleagues' and that it will be 'keeping them fully updated on key decisions and developments.'
St. James's Place topped the SoGlos Top 100 in June 2024, with its reported turnover now sitting at over £1.18 billion for the year ending December 2023.
