Standard Life to shed 600 jobs

The insurer said around 480 jobs would go in Edinburgh and about 95 across its regional offices across the UK, with another 25 axed across its overseas operations.

Five jobs will be cut at Leeds out of a total of between 30 and 40 positions.

Standard Life's Bristol and Birmingham offices will be the hardest hit, with 25 and 15 job cuts respectively.

The staff will be cut over the next 15 months as part of restructuring, but Standard Life said it was also creating 100 jobs elsewhere in the business.