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IAG cuts 'more than 200' jobs under restructure

IAG says changes to its operating structure will lead to redundancies and it is helping affected staff find “redeployment opportunities”.

The insurer has not revealed how many employees are affected but the Finance Sector Union says 214 jobs will be cut, including roles that support digital business, direct claims, distribution and underwriting.

An IAG spokesperson says the changes aim to align teams under a new structure to ensure “we have in place the most effective processes for our business to serve and support our customers.

“The restructure changes we’ve proposed are a result of bringing together our customer growth and distribution business units in March this year, as well as our partners and platforms team moving into retail insurance Australia in August.

“We understand any change can be a challenging experience for people, and our focus is supporting our employees through the consultation process which is currently under way, and redeployment opportunities. No front-line customer claims roles are impacted.”

The finance union says it has been told the jobs will be cut in the Direct Insurance Australia and Intermediated Insurance Australia divisions.

“We’re calling on the IAG board to reconsider this decision and think of the impacted workers who are facing an uncertain future,” national secretary Julia Angrisano said.