Edinburgh financial giant Standard Life axes 140 jobs

CITY financial giant Standard Life is to axe almost 140 jobs in a restructuring process.

The company said the majority of the 139 job losses would be at its Capital base.

Chief executive officer Paul Matthews said: “A lot of great progress has been made getting Standard Life ready for the retail distribution review and pensions reform.

“Our current model and structure has to change to meet the changing demands of this new world where customers will want to interact in different ways for different products.”