Direct Line to Cut 550 Jobs in Major Cost-Cutting Initiative

The UK insurer aims to save £50 million next year by reducing its workforce amid challenging market conditions.

Direct Line plans to reduce its workforce by approximately 550 roles, representing about 5-6% of its total employees.
The job cuts are part of a broader strategy to achieve £50 million in savings and create a more efficient operating model.
CEO Adam Winslow, who assumed leadership in March, is spearheading a turnaround effort following a period of financial instability.
The company has faced declining customer numbers due to increased premiums and challenging motor insurance market conditions.
Direct Line previously fended off a £3.1 billion takeover bid from Belgian insurer Ageas earlier this year.