Generali Proximité Assurances (GPA)

Type
Internal restructuring
Country
France
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
222 jobs
Number of planned job losses
Job loss
Announcement Date
1 December 2006
Employment effect (start)
1 January 2007
Foreseen end date
28 February 2007

Description

The Italian insurance group Generali announced on 1 December 2006 that Generali Proximité Assurances (GPA) will cut nearly 15% of its workforce. As a result of this, 222 salespeople at GPA will lose their job between January and February 2007. Seven out of the nine trade unions have agreed to this plan which envisages a new calculation of the wages in order to save jobs in a sector where commercial margins are reduced and competition is very intense.

Sources

  • 5 December 2006: La Tribune
  • 4 December 2006: Les Echos
  • 4 December 2006: AFP
  • 15 November 2006: La Tribune

Citation

Eurofound (2006), Generali Proximité Assurances (GPA), Internal restructuring in France, factsheet number 64550, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64550.