Standard Life is to cut up to 500 jobs in Edinburgh over the next 18 months.
Derek Brownlee MSP, Shadow Cabinet Secretary for Finance & Sustainable Growth, said:
"This news will come as a blow to the staff at Standard Life and their families, although we must continue to support the vital financial services sector in Edinburgh and across Scotland.
"It demonstrates why we have to secure a sustained recovery and create new jobs. Both our governments must work together to achieve these aims."
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