Ergo

Type
Internal restructuring
Country
Germany
Region
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
200 - 300 jobs
Number of planned job losses
Job loss
Announcement Date
2 April 2014
Employment effect (start)
2 April 2014
Foreseen end date
31 December 2014

Description

Insurance company Ergo announced to cut 200 to 300 jobs by means of natural attrition in 2014. As reported, the company suffers from declining contributions and a difficult market environment. According to the sources the job reduction plan will take place till 2018 envisaging the loss of 200-300 jobs each year. 

Sources

  • 3 April 2014: Nürnberger Nachrichten
  • 3 April 2014: Frankfurter Allgemeine Zeitung
  • 3 April 2014: Hamburger Abendblatt
  • 2 April 2014: Express

Citation

Eurofound (2014), Ergo, Internal restructuring in Germany, factsheet number 76873, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76873.