Type
Closure
Country
Estonia
Region
Eesti;
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65.1 - Insurance

46 jobs
Number of planned job losses
Job loss
Announcement Date
13 June 2013
Employment effect (start)
13 June 2013
Foreseen end date
13 July 2013

Description

Ergo Insurance, an Estonian insurance company, has announced plans to cut 46 jobs (sales unit) and close 18 offices across the country under a cost-saving plan. The company stated the need to reorganize its sales network due the changing customer needs. The reorganization has already started in spring by reducing the number of mid-level managers. The company currently has 389 employees and 450,000 clients across the Baltics.


Sources

  • 13 June 2013: Aripaev

Citation

Eurofound (2013), Ergo Insurance, Closure in Estonia, factsheet number 75564, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75564.