Deutsche Rentenversicherung Mitteldeutschland

Type
Merger/Acquisition
Country
Germany
Region
Location of affected unit(s)
Saxony, Saxony-Anhalt, Thuringia
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
250 jobs
Number of planned job losses
Job loss
Announcement Date
23 August 2005
Employment effect (start)
1 October 2006
Foreseen end date
31 December 2009

Description

Three East German states, Saxony, Saxony-Anhalt and Thuringia have agreed on a merger of their public law insurance corporations. In the new corporation, 4,300 employees will take care of the pensions of 2,4 million insured. 250 jobs will be cut in the process.

Sources

Citation

Eurofound (2005), Deutsche Rentenversicherung Mitteldeutschland, Merger/Acquisition in Germany, factsheet number 62144, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62144.