Prudential Announcements – 12th June 2018
June 22nd, 2018
You will by now have heard the Company’s announcement regarding the extension of the strategic partnership with Diligenta. We understand the drivers behind the need for business transformation and the need to deliver this at pace.
CS&I
Unite was informed of this announcement at the beginning of May and we have had some meaningful and positive discussions regarding the transfer of roles to Diligenta. We are pleased that there are no plans in the short term for any redundancies and that the Prudential redundancy terms will transfer with the roles.
The communications made on 12th June refer to approximately 403 Prudential roles being transferred to Diligenta and they all sit within CS&I, Risk and Finance in Reading and Craigforth. Mumbai roles will transfer to TCS as Diligenta are wholly UK based.
Some of those remaining at M&G Prudential in the CS&I function have been put at risk of redundancy but that there are a number of new roles in the new structure.
Wealth Solutions
We have also been involved with the consultations regarding the restructure of Wealth Solutions and the realignment into job families – we understand this is a period of uncertainty for you but although a large number of people will be placed at risk of redundancy, there will be more vacancies in the new target operating model than in the at risk pool, which we are pleased with.
Training and support will be provided for those that secure roles in the new structure and there are no plans to move jobs from Reading to Edinburgh.
General
We have spoken to a lot of individuals over the last few days in Reading, Craigforth and London to gain an understanding of the issues/concerns they have over the transformation. These have been invaluable and will provide the basis of our approach to the consultations that start on 19th June.
As part of the consultation process we have been invited to visit a Diligenta site and will update you on our impression of the operation once that has happened.
We will keep you all updated regularly on our consultations with the business and what Unite is doing to support our members that are being transferred, individuals that remain within M&G Prudential and those in Wealth Solutions during this time of unprecedented change.
If you have any questions on the announcement please email Unite@prudential.co.uk or speak to your local rep.
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