Prudential to outsource 1,750 jobs

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A total of 1,750 employees based in Reading and Stirling will transfer to outsourcing firm Capita.

Another 1,250 staff based in Mumbai, India, who service the UK market, will also transfer to Capita under the arrangement.

The announcement comes after an eight-month review by Prudential management.

It was begun in March this year as bosses warned they wanted to save £195 million a year within three years to help the under-performing UK arm.

Nick Prettejohn, chief executive of Prudential UK, said: "After detailed analysis of a number of potential options, it was clear that Capita best enables us to deliver continued high levels of customer service while providing ongoing certainty over costs.

"They are a partner with a proven record of high standards of service for customers and advisers, IT delivery and support while also offering the best overall employment solution for our staff."

A total of 1,000 staff in Stirling and 750 in Reading will be affected by the announcement.

The posts comprise customer services, customer operations, information technology and other related support functions, the Pru said.

It is understood the transfers could be completed by April next year.