Skandia

Type
Merger/Acquisition
Country
Sweden
Region
Östra Sverige; Stockholm; Stockholms län
Location of affected unit(s)
Stockholm
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
100 jobs
Number of planned job losses
Job loss
Announcement Date
20 June 2006
Employment effect (start)
Foreseen end date

Description

The insurer Old Mutual plans to cut 100 jobs at the headquarters of its subsidiairy Skandia in Stockholm. According to Julian Roberts, CEO of Skandia, some activities do not need to be carried out in Stockholm as a result of the integration of Skandia within Old Mutual. Skandia currently employs some 1,700 people in Sweden.

Sources

  • 20 June 2006: Sveriges Radio

Citation

Eurofound (2006), Skandia, Merger/Acquisition in Sweden, factsheet number 63677, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63677.