Scotland business

Fifty jobs at risk at Standard Life Aberdeen

Standard Life Aberdeen sign Image copyright Standard Life Aberdeen

About 50 jobs are at risk at a leading asset management firm in Aberdeen.

Standard Life Aberdeen has moved premises in the city and said that about 30 employees had been affected by the move.

It is understood that another 20 posts could also go in the coming months.

It is hoped that the cuts can be achieved through natural wastage, redeployment within the company or a reduction in the number of contractors employed.

The Edinburgh-based pensions and fund management firm said that following the merger between Standard Life and Aberdeen Asset Management in 2017, the company had conducted a global review to ensure it was using its office spaces effectively and efficiently.

A spokesman for the firm said: "We have already reduced the number of offices in in London and Edinburgh as part of this process. In line with this activity we have decided to consolidate our operations in Aberdeen moving from two locations to one.

"What is not in doubt is our commitment to Aberdeen, which continues to be a key strategic location for Aberdeen Standard Investments."

In August, Standard Life Aberdeen reported that its profits had dipped by more than £30m in the first half of the year.

However, the firm also saw an increase in the value of the assets it manages.

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