Royal London sheds 220 jobs

Royal London, the UK's largest mutual life and pensions company, is set to close the Liverpool headquarters of Royal Liver, the business it bought in July, at the cost of 222 jobs.

In the wake of the takeover, Royal London launched a review in the business, which yesterday reported that Royal Liver's Liverpool operations would be integrated into its Wilmslow base.

The company is set to create 105 new jobs in Wilmslow in Cheshire, and a further seven in London, with the Liverpool staff affected receiving "preferred candidate" status.

Consultation on the plans start next week and will run for 90 days. Stephen Shone, group finance director, said the company was putting in a "package of support for all employees affected".