Internal restructuring
Location of affected unit(s)
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

1,800 jobs
Number of planned job losses
Job loss
Announcement Date
29 July 2008
Employment effect (start)
29 July 2008
Foreseen end date
31 December 2010


On 10 December 2008, the insurance company Ergo announced that it is to cut around 1,800 jobs by the end of 2010. First information on a job reduction scheme was released on 29 July 2008 when the company had stated to cut 1930 jobs. However, negotiations between Ergo management and the works council led to a reduction of the figure to 1,800 jobs. The management furthermore stated that it was to refrain from redundancies due to business operations till 2012. The job cuts are to be implemented through other job reduction measures, such as early retirement schemes and natural wastage.


  • 30 July 2008: Frankfurter Allgemeine Zeitung


Eurofound (2008), Ergo, Internal restructuring in Germany, factsheet number 66934, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66934.