The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65 - Insurance, reinsurance and pension funding, except compulsory social security
350 - 400 jobs Number of planned job losses
Announcement Date
14 June 2006
Employment effect (start)
Foreseen end date
Description
Health insurance company Menzis (2600 employees) announced on 14 June 2006 that it will close its establishment in Rotterdam and cut 350 to 400 jobs. According to Menzis forced dismissals are inevitable.
This reorganisation is a consequence of the new health care system in the Netherlands which is in force since January 2006. The introduction of the mandatory uniform health insurance rendered many administrative workers superfluous.
Recently Menzis, Agis (health care insurance) and Delta Lloyd (a major Dutch insurance company) announced their intention to merge. In the months to come the different options will be investigated in order to confirm the merger in October 2006. This merger will create the second largest health insurance company of the Netherlands with a 25% market share (4 million clients), an annual turnover of 7 billion euro and some 6000 employees. Menzis does not rule out that more jobs will be lost in the near future. However the number of jobs in danger is unknown because it is to a large extent dependent on the situation at the other insurance companies.
Sources
15 June 2006: De Volkskrant
Citation
Eurofound (2006), Menzis, Internal restructuring in Netherlands, factsheet number 63629, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63629.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
