Friends Life is to close its Basingstoke office and consolidate its Manchester offices by the end of 2012 in a move that could see up to 295 jobs affected.

The changes at the life insurer - owned by FTSE 100-listed consolidation vehicle Resolution (RSL.L) - are part of its future strategy to combine the various businesses within the group.

The Basingstoke office concentrated on the administration of corporate pensions business acquired from AXA UK and will be migrated to its New Generation Pensions platform.

The life insurer will also close the former Friends Provident office at Spring Gardens in Manchester to consolidate into the Bupa Health Assurance Salford Quays office.

According to Friends Life, 140 employees at the Spring Gardens office and 155 at the Basingstoke office will be affected. The insurer has held talks with union Unite and will consider relocation for some empluees.

David Hynam, executive director operations at Friends Life, said, 'The proposals announced today are part of a review of our office locations across the enlarged business to rationalise sites and reduce fragmentation of our operations.

'Our strategy to reduce our cost base can be achieved by consolidating into fewer office locations and today's announcement helps us to achieve this objective.

He added, 'These decisions, whilst necessary, are extremely difficult ones to make and we are very mindful of the impact on our people. We will do all we can to help them through this period.'

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