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
222 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64550.
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