AA to cut 300 jobs
Roadside recovery service AA is planning to cut 300 jobs as part of a wide-ranging review into costs, it is understood.
The cuts, which will all be back-office, will come as part of a review into its costs, launched following its IPO last year. It is understood they will take place as the company "significantly" invests in new technology for its back office.
However, the changes are also likely to include the creation of 50 new front-line patrol posts.
In August, chief executive Chris Jansen and chief financial officer Andy Boland left the firm, leading executive chairman Bob Mackenzie in charge.
But although the AA's share price fell 2.4 per cent on its first day of trading in June, since then shares have steadily risen, from a low of 231p to 362p now.
A spokesperson for the company said it was "in the process of preparing a strategy to further strengthen the AA's position".
We recognise the need to embrace change to continue to improve our customer service. To do this we must deploy our resources more effectively to support our frontline staff, as well as investing in the business’s future. Whilst we are in the very early stages of this process and not in the position to give specific detail, our objective is to enhance customer service through investment in technology and more integrated systems across the AA.