(MENAFN) British insurer giant Aviva announced it may cut an approximate of 1,500 jobs over the next two years as a result of its takeover of rival Friends Life, AFP reported.
The company added that no specific teams, roles or locations had been identified, while it will seek to keep redundancies to a minimum. Aviva agreed to purchase Friends Life for "5.0 billion last year.
"As a result of this transaction, Aviva expects to deliver approximately USD341 million of annual savings by the end of 2017," the Britain-based group said in a statement.
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