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
180 jobs Number of planned job losses
Announcement Date
19 January 2009
Employment effect (start)
Foreseen end date
Description
Galway-based medical insurer Cigna Healthcare has announced that it is to close over the next few months and all 180 staff are to be made redundant. The company, which is owned by the American Cigna Corporation, has blamed the current economic climate for the closure, as well as automation of claims processing. The intention is for the work to be relocated to existing Cigna locations in India and the Philippines.
Sources
20 January 2009: The Irish Times
Citation
Eurofound (2009), Cigna Healthcare, Closure in Ireland, factsheet number 68005, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68005.
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