Internal restructuring
Région Bruxelles-Capitale / Brussels Hoofdstedelijke Gewest;
Location of affected unit(s)
Brussels (mainly)
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65.1 - Insurance

200 jobs
Number of planned job losses
Job loss
Announcement Date
16 December 2016
Employment effect (start)
1 January 2017
Foreseen end date


Ergo, a Belgian insurance company has announced restructuring plans with regards to its activities in Belgium - 200 white collar employees face the loss of their jobs as a result of cost saving measures. The company is phasing out its life insurance business which, due to low interest rates, is no longer sustainable. Union representatives indicate that they are pessimistic about the jobs of the remaining employees as well. As life insurance was one of Ergo's main products, the company is likely to struggle to be profitable in the future. In recent months several financial companies have faced layoffs for similar similar reasons, including: ING, P&V, Axa and Crelan.


  • 16 December 2016: De Morgen
  • 16 December 2016: De Standaard


Eurofound (2016), Ergo Insurance, Internal restructuring in Belgium, factsheet number 89640, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89640.