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
100 jobs Number of planned job losses
Announcement Date
8 March 2007
Employment effect (start)
1 April 2007
Foreseen end date
31 December 2008
Description
On a press conference 8 March 2007 the CEO of the insurance company Codan announced that 75 employees will be made redundant during 2007 and further 25 in 2008, i.e. 100 jobs in all. At the end of 2006 there were 1,489 employees in the Danish department in Copenhagen. The CEO said that this was a continuation of the company policy that so far have resulted in the redundancy of 250 jobs as part of a comprehensive restructuring of costs. He did not specify the timespan over which the 250 redundancies took place, but it was understood that it was before the end of 2006. Codan is owned by Royal & Sun. The 100 redundancies will take place within IT, examination of claims and sales.
Sources
9 March 2007: Ritzaus Bureau
Citation
Eurofound (2007), Codan A/S, Internal restructuring in Denmark, factsheet number 64345, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64345.
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