British insurer M&G drops plans for 10% job cuts this year-memo
LONDON, April 1 (Reuters) - British insurer M&G has dropped plans to cut staff by 10% this year due to coronavirus, it said in a memo to staff on Wednesday seen by Reuters.
"Because of the uncertainty caused by this pandemic, we are dropping our aim to reduce staff-related costs by 10% this year," Chief Executive John Foley said.
British banks including HSBC and Lloyds have also delayed some job cuts due to the pandemic. (Reporting by Carolyn Cohn; editing by Simon Jessop)
