Nobody likes to hear about people loosing their job. So you will no doubt be disappointed to read that the well-known insurance company called Direct Line is to axe 550 jobs in the UK in 2025.

The insurer only announced in July of this year that it was to make available some of its products on price comparison websites. Previously, in order to take out a policy with them, you would not have been able to do so via such a website. Presumably, the insurer felt that it would be able to make more money by making its products available through such websites.

It is estimated that by shedding 550 jobs the company will save in the region of £50 million in 2025. We are sure that you will agree that is a sizeable sum of money.

The company employ in the region of 9,000 staff so these 550 job losses equate to around 6% of the workforce. It is worth noting that some of the job losses relate to vacancies that will not be filled.

Direct Line has seen a large drop in the number of car insurance policyholders. As at the end of September 2024 it had 3.05 million policyholders with this being a drop of almost 400,000 policyholders when compared with September 2023. That equates to a fall of about 11%. Again, we are sure that you will agree, this is a sizeable fall and will probably give the company some cause for concern. Could this be one of the reasons why Direct Line has decided to shed so many jobs?

Direct Kline has been around for many years offering a number of different insurance products. Such as car insurance, van insurance and home insurance.

If you require a classic car insurance quotation then why not get in contact with us as we provide access to an extensive panel of insurers. After all, quotes are provided without any obligation to purchase. We look forward to hearing from you at your earliest convenience.