THERE was more gloomy news on the jobs front as insurance giant Friends Provident said it would cut around 600 jobs. The company, which employs around 450 people at an office on Great Ancoats Street, Manchester, said it was `too early' to say where the jobs would go.

Life and pensions firm Friends Provident announced on Tuesday that a key player from rival Standard Life had joined the firm to lead a revival of the business.

The company unveiled Trevor Matthews - the former head of Standard Life's main assurance subsidiary - as its new chief executive.

The move will inspire hopes that Friends is now ready to move on from the collapse of its £8.6 billion merger with closed-life funds manager Resolution last year.

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