L&G has begun consultations with unions
Insurance firm Legal & General is planning to cut between 250 and 450 jobs, the BBC has learned.
Legal & General employs 8,500 people and said it faced "changing business demand and operational efficiencies".
"L&G will keep any potential redundancies to a minimum and will try to find suitable alternative employment for staff affected," a spokesman said.
Legal & General's main offices are in London, Cardiff, Brighton and Kingswood in Surrey.
The firm said it has begun consulting its unions.
"L&G has entered into consultation with collective representatives over potential redundancies within its support functions," the insurer said in a statement.
In an e-mail to its members, the Unite union said: "We are extremely disappointed and saddened at this announcement.
"We will ensure that wherever possible, voluntary redundancy is an available option to reduce the number of compulsory redundancies."
"In the current economic climate we are more committed than ever to doing everything possible to defend our members' jobs."