Legal & General is to cut 1,000 jobs by mid-2027 as CEO drives push to become a 'leaner' business

From the Newshound archive · first published 24 September 2026.

Insurance and pensions group Legal & General is eliminating roughly 1,000 roles — about 10 per cent of its workforce — as chief executive António Simões pursues a sweeping overhaul of the business. Staff were informed via an internal email that a voluntary redundancy window will open first, with compulsory cuts available as a fallback if take-up is insufficient. The programme is targeted for completion by mid-2027 and covers the group's approximately 10,000 UK employees.

Simões, who took the chief executive role in 2024, has already sold off assets including housebuilder Cala Homes to sharpen the group's focus on insurance, retirement and asset management.