Generali Holding Vienna AG

Type
Internal restructuring
Country
Austria
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
350 - 390 jobs
Number of planned job losses
Job loss
Announcement Date
26 July 2006
Employment effect (start)
26 July 2006
Foreseen end date
31 December 2008

Description

The Generali Holding Vienna insurance company, a subsidiary of the Generali Group headquartered in Italy, will ‘in the worst case’ lay off in between 350 and 390 out of around 10,000 employees (in Austria) by the end of 2008. This information was made public on 26 July 2006 by the company’s management via a press release. Accordingly, company restructuring will centralise back-office tasks now being dispersed all over the country and thus relieve the regional offices in each Land from administrative burdens. Redundancies will thus be inevitable. The company’s works council and the Union of Salaried Employees have alleged planned losses of even some 700 jobs – a number that has been rejected by the management. Both the works council and the union have called on the management to assume ‘social responsibility’ for the employees. Organised labour has announced a so-called ‘action day’ to be held on 29 July 2006 in order to protest against the planned redundancies.

Sources

  • 22 January 2003: Der Standard
  • 26 July 2006: Der Standard

Citation

Eurofound (2006), Generali Holding Vienna AG, Internal restructuring in Austria, factsheet number 59797, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59797.