Legal & General has announced restructuring plans that include cutting a reported 1,000 jobs by mid-2027. If your role at the financial services firm is at risk, understanding employment rights under England and Wales law can help you navigate the process ahead.
What has been announced
- Legal & General plans to cut approximately 1,000 jobs as part of a restructuring programme led by chief executive Antonio Simoes.
- The planned job losses are scheduled to take place by mid-2027 with the stated goal of simplifying operations.
- The restructuring reportedly targets an estimated 10% reduction in jobs across the company.
- The company has confirmed that the planned reductions will significantly affect its operations and workforce in Cardiff.
About the company
Legal & General is a major UK financial services company.
The group maintains large operations across the UK, including a substantial workforce based in Cardiff.
The current restructuring drive is being directed by chief executive Antonio Simoes to streamline the business.
What happens next
Because the proposed restructuring involves 100 or more redundancies, UK law requires a collective consultation period of at least 45 days before any dismissals take effect.
Where between 20 and 99 redundancies are proposed at a single establishment, the minimum collective consultation period is 30 days.
Employers must consult with recognised trade unions or elected employee representatives to discuss ways to avoid dismissals and mitigate their impact.
Staff placed at risk should also participate in individual consultation meetings to discuss scoring, alternative vacancies, and redundancy terms.
Voluntary or compulsory redundancy
Employers undergoing operational changes often invite applications for voluntary redundancy to reduce the need for compulsory cuts.
Employees with at least two continuous years of service are entitled to statutory redundancy pay, calculated based on age, length of service, and weekly earnings up to the statutory cap.
Legal & General may also provide contractual or enhanced redundancy packages depending on employment contracts or company policy.
Your settlement agreement
Employees departing under agreed redundancy terms may be offered a formal settlement agreement.
A settlement agreement is a legally binding contract under which an employee agrees not to pursue employment tribunal claims in exchange for a compensation payment.
To be legally binding under England and Wales law, you must receive advice on the terms and effect of the agreement from an independent legal adviser.
Employers standardly provide a financial contribution towards the cost of your independent legal advice.
Common questions
How many jobs are being cut at Legal & General?
Legal & General has announced plans to cut a reported 1,000 jobs by mid-2027, with reports indicating a targeted 10% reduction in roles.
Which offices are affected by the cuts?
Legal & General has confirmed that its operations and workforce in Cardiff will be significantly impacted by the planned redundancies.
What is the collective consultation period for these redundancies?
Under England and Wales law, employers proposing 100 or more redundancies at one establishment must conduct collective consultations for at least 45 days. If 20 to 99 roles are affected, the minimum consultation period is 30 days.
Do I qualify for redundancy pay?
To qualify for statutory redundancy pay, you must have completed at least two years of continuous service with the employer. You may also be eligible for contractual terms depending on your employment agreement.
How Deen & Co helps
Deen & Co Solicitors provides independent legal advice to employees facing redundancy, restructuring, and settlement agreements. Our team reviews severance terms, explains your statutory rights, and ensures that any proposed settlement agreement adequately protects your interests.
Read more about settlement agreement advice or work out your statutory redundancy pay.
If your role is in London, our settlement agreement solicitors London can review the package before you sign.
Sources
- 10% jobs cut targeted for L&G - Cover Magazine — Cover Magazine (24 September 2026)
- Huge Cardiff employer Legal & General confirms 1,000 job losses - Yahoo News UK — Yahoo News UK (24 September 2026)
- Huge Cardiff employer Legal & General confirms 1,000 job losses - Wales Online — Wales Online (24 September 2026)
- Legal & General to cut 1,000 roles by mid-2027 — Personnel Today (24 September 2026)
- Legal & General to cut 1,000 jobs by mid-2027 to simplify operations - Business Matters — Business Matters (23 September 2026)
- L&G to axe 1,000 jobs in shake up by boss Antonio Simoes amid deepening UK jobs gloom - This is Money — This is Money (23 September 2026)
- Legal & General to cut 1,000 jobs by mid-2027 - AOL.co.uk — AOL.co.uk (23 September 2026)
- Legal & General to cut 1,000 jobs by mid-2027 - The Guardian — The Guardian (23 September 2026)
Last updated 24 September 2026. This page summarises publicly reported information and is general guidance, not legal advice on your own situation.
Free consultation · Employer usually pays
Been offered a settlement agreement by Legal & General?
Speak to a solicitor today for a free consultation. Don't sign anything until you know what you're entitled to.
Settlement agreement advice · All redundancy programmes · Redundancy pay calculator