STANDARD Life has told employees that its ongoing restructuring would trigger a further loss of 38 jobs at its Edinburgh headquarters.

The group said the net headcount reduction was related to changes in the business model within its group IT and commercial function. It said: "The changes being proposed will create a more efficient centralised group function, as we look to provide consistent and cost-effective services from within the division."

Standard said the new model would deliver a structure to make it easier to work across a range of geographies, increased scaleability to meet future growth potential, greater separation between strategic planning and delivery, clearer ownership and responsibilities, and clear alignment to the group's strategy.

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In November, Standard said 139 jobs would go ahead of regulatory changes in pensions and financial advice, with the main impact in Edinburgh where it employs 5500 of its 6200 UK staff.