Acenda defends job cut handling after FSU dispute

Binaya Dahal

Journalist, Financial Newswire

18 March 2026

Life insurer Acenda says it started a staff consultation process in January around consolidation as a result of the MLC Life, Resolution Life and Asteron Life merger.

The company made its position clear after the Finance Sector Union (FSU) alleged that the insurer had made hundreds of positions redundant without adequate communication.

Acenda, however, said the firm has engaged with employees impacted by these changes, with redeployment opportunities offered where possible, and appropriate transition support provided to those leaving the business.

“We recognise this has a real impact on people, which is never easy,” the spokesperson said.

“We commenced an extensive and considered consultation process in January, with a strong focus on supporting those affected by these changes.”

In initiating the formal dispute, FSU said that the company eliminated approximately 85 upper middle-management roles in an initial round of cuts.

The union claimed it then made around 150 lower middle-management positions redundant in the second round, and a further 50 roles in the third round.

Furthermore, the union said the company has laid off staff across almost every department, with many cuts affecting employees from the former MLC Life Insurance side of the business.

“Workers deserve transparency and genuine consultation when major changes are happening to their jobs and their livelihoods,” FSU national president, Wendy Streets said. “Enterprise agreements require employers to genuinely consult with workers when significant changes are proposed.”

However, Acenda, said it focused the restructuring on establishing senior leadership, addressing role duplication, and creating a structure capable of executing its strategy.

“Bringing our businesses together has meant designing a new organisational structure to deliver on our strategy and meet customer commitments,” the company said.