LONDON- 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) ((carolyn.cohn@thomsonreuters.com; 44 207 542 6320; Reuters Messaging: carolyn.cohn.thomsonreuters.com@reuters.net))
