Zurich

Type
Internal restructuring
Country
United Kingdom
Region
South East (England); Hampshire and Isle of Wight;
Location of affected unit(s)
Whiteley, Southampton
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
190 jobs
Number of planned job losses
Job loss
Announcement Date
3 July 2008
Employment effect (start)
Foreseen end date

Description

Insurance company Zurich has announced that it is to cut 190 jobs from its offices in Southampton and Whiteley. A consultation period with the Union of Finance Staff is set to conclude in early September though there is no confirmed date for the redundancies to take place. Zurich UK's general insurance chief executive has said that the company must act swiftly to ensure that it remains in a strong and competitive position for the future, and that the company intends to reduce costs while maintaining customer focus.

Sources

  • 3 July 2008: BBC Website

Citation

Eurofound (2008), Zurich, Internal restructuring in United Kingdom, factsheet number 66833, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66833.