Zurich

Type
Internal restructuring
Country
United Kingdom
Region
Wales; South East Wales; Cardiff and Vale of Glamorgan
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
122 - 177 jobs
Number of planned job losses
Job loss
Announcement Date
6 July 2011
Employment effect (start)
Foreseen end date

Description

Insurance company Zurich has announced that it is to reduce its Cardiff workforce by between 122 and 177 posts. The company acknowledged the difficult message for staff and said that Zurich was committed to reducing the impact by using redeployment, natural turnover and voluntary measures where possible. In addition to the job losses in Cardiff the company announced that 78 full time posts would be lost in India and 59 roles in an unspecified location would be lost as contracts expired. No timeline was given for the cuts. 

Sources

  • 6 July 2011: BBC Website

Citation

Eurofound (2011), Zurich, Internal restructuring in United Kingdom, factsheet number 72173, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72173.