Confused.com has confirmed that it is looking to restructure the business putting jobs at risk as its long-running chief executive Louise O'Shea steps down. The price comparison company, which is based in Cardiff, said it is proposing the restructure to remain "financially robust" in the long term with "a number of roles at risk of being made redundant".
When asked how many jobs were at risk, the firm said it was entering a consultation period so nothing was yet confirmed.
A Confused.com spokesperson said: "We are proposing a restructure within Confused.com, with a number of roles at risk of being made redundant. These proposals are subject to a collective consultation within Confused.com.
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They added: “As a business we are committed to supporting our customers as the cost of living crisis means many household expenses are increasing. However, the insurance industry has been hit with many changes and challenges over the past few years, which means we are now operating in an increasingly competitive market.
"As a result, we need to ensure the business is in a financially robust position in the long term and responds to changes in the insurance industry. Our priority is supporting everyone through this difficult time.”
Confused.com also confirmed that its longest-running chief executive Louise O'Shea was stepping down from the role though no reason for her departure has yet been given. Ms O'Shea joined the company in September 2017 and is a founding board member and chair of FinTech Wales.
A spokesperson said: "Louise O’Shea, our longest running CEO has also decided that she will be stepping down. Louise’s departure will not have any impact on the current or proposed structure of the business. A new CEO to be confirmed in due course, subject to regulatory approval.”
Confused.com, headquartered in Cardiff, was founded in 2002 and became the UK’s first online car insurance marketplace.
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