Legal & General to cut 1,000 jobs by mid-2027

Legal & General plans to cut about 1,000 jobs — roughly 10% of its workforce — by the middle of next year, according to a Bloomberg News report on Wednesday, as chief executive António Simões presses ahead with streamlining the British insurer. Reuters, which carried the report, said it could not immediately verify Bloomberg’s account.

Simões said the company needed to change how it works: “To deliver our strategy successfully, we now need to make sure the way we work reflects the business we are becoming. Across L&G, we need to change how we work today and, through this, become a leaner organisation. By the middle of next year, we expect to reduce the size of our organisation by around 1,000 roles.”

He said L&G had grown too complex over the last decade. The reduction will begin with a voluntary job reduction programme; if voluntary exits fall short of the target, compulsory redundancies may follow. The company will consult with unions, and said the move would help focus investment on its strongest growth opportunities.

The Guardian also reported the 1,000-job target on Wednesday. The cuts sit alongside a broader “growing, simpler, better-connected” strategy and a £1.2bn share buyback — the largest in L&G’s history.

Sources

• Reuters — “L&G to cut about 10% of workforce by mid-2027, Bloomberg News reports” — https://www.reuters.com/legal/litigation/lg-cut-about-10-workforce-by-mid-2027-bloomberg-news-reports-2026-09-23/
• The Guardian — “Legal & General to cut 1,000 jobs by mid-2027” — https://www.theguardian.com/business/2026/sep/23/legal-and-general-to-cut-1000-jobs-by-mid-2027
• Livemint — “L&G Layoffs: London-based company to cut 10% of workforce or about 1,000 jobs by mid-2027” — https://www.livemint.com/companies/lg-layoffs-london-based-company-to-cut-10-of-workforce-or-about-1-000-jobs-by-mid2027-11790156779040.html