abrdn has unveiled the extent of its latest cost cutting endeavour, which seeks to reduce annualised costs by £150m by the end of 2025, including 500 redundancies.
It was revealed yesterday (23 January) that the Edinburgh-based asset manager was letting around 500 members of its staff go, a cohort which excludes fund managers as they were ringfenced from the endeavour. Fund managers ringfenced from upcoming abrdn job cuts Today, abrdn explained the scale of the new operation, which CEO Stephen Bird described as a "transformation programme". He said: "We exceeded our £75m cost reduction target for 2023 for Investments, but we recognise more needs to be done. "After a root and branch review, we are now re-engineering and simplifying our busi...
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