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
122 - 177 jobs Number of planned job losses
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72173.
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