Price comparison site Confused.com has revealed a restructure plan that could put jobs at risk as its long-serving CEO steps down.
The business, which is based in Cardiff, says the changes put “a number of positions at risk of being made redundant”.
It says the company needs to restructure to stay “financially robust” in the long term.
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The company has yet to state how many jobs will be lost as a staff consultation is being carried out and nothing has been confirmed.
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A Confused.com spokesperson said: “We are proposing a restructure within Confused.com, with a number of roles at risk of being made redundant. These proposals are subject to a collective consultation within Confused.com.
“As a business, we are committed to supporting our customers as the cost of living crisis means many household expenses are increasing.
“However, the insurance industry has been hit with many changes and challenges over the past few years, which means we are now operating in an increasingly competitive market.
“As a result, we need to ensure the business is in a financially robust position in the long term and responds to changes in the insurance industry. Our priority is supporting everyone through this difficult time.”
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Louise O’Shea, the company’s longest-serving CEO, also confirmed she was leaving her position, but no reason has been given for her decision.
Ms. O’Shea,is a founding board member and chair of FinTech Wales, joined the business in September 2017.
A spokesperson said: “Louise O’Shea, our longest-running CEO has also decided that she will be stepping down. Louise’s departure will not have any impact on the current or proposed structure of the business. A new CEO to be confirmed in due course, subject to regulatory approval.”
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Confused.com was established in 2002 and quickly rose to prominence as the UK’s first online marketplace for auto insurance.
Source: Business Live
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