Britam announces job cuts as it re-structures

Employees affected are expected to exit the business under a Voluntary Early Retirement program.

In Summary

•Under the VER programme, exiting employees will receive an attractive package that is well above the industry average.

•This process is expected to conclude at the end of May 2021.

Britam Insurance headquaters in Upper Hill. /FILE
Britam Insurance headquaters in Upper Hill. /FILE

The Board of Britam Holdings Plc has announced a new organisational structure that will result in a more competitive, efficient and customer-centric organisation.

Additionally, it will gear the organisation for enhanced digital innovation in its solutions and in product development.

The reorganisation is expected to lead to a leaner executive team with fewer reporting layers that will support the company’s growth in an increasingly competitive business environment.

The review of the organisational structure is also expected to significantly improve service standards, reduce corporate and shared service costs, reduce unnecessary overlaps and put the customer at the centre of the business.

The reorganisation is the result of a business strategy review spearheaded by the Board, for the period 2021- 2025.

As part of the business review, Britam benchmarked and modelled its desired service levels against the most profitable organizations in the the world and the region.

The business realignment process will result in the elimination of some roles.

Employees in the affected roles and positions are expected to exit the business under a Voluntary Early Retirement program.

Under the VER programme, exiting employees will receive an attractive package that is well above the industry average.

This process is expected to conclude at the end of May 2021.