As part of its plans to reduce annual costs by GBP350 million, insurance provider Aviva has reportedly confirmed that it may cut more jobs, media reports have revealed.

With 60,000 employees across the world, the company plans to cut an initial 4,000 jobs before the end of 2007, reported the BBC. This is in addition to the 400 job cuts announced earlier in the group’s IT department.

The publication added that the company plans to achieve the cost reductions within the next two years, and at present, was unsure as to how many positions might be affected.

The BBC reported that the group plans to derive cost savings from its general insurance, life insurance and continental European operations to the tune of GBP200 million, GBP100 million and GBP50 million, respectively.

Meanwhile, trade union Unite has said that it plans to have an urgent meeting with Aviva’s senior management, revealed the BBC.