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 65.12 - Non-Life Insurance
105 jobs Number of planned job losses
Announcement Date
28 November 2023
Employment effect (start)
28 November 2023
Foreseen end date
Description
Alm. Brand is a large insurance Danish Insurance company. In 2021 the company aquired another danish insurance company, Codan. The merger between Codan and Alm. Brand created the second largest insurance company in Denmark. Now, a few years after the merger, the company has decided its time to trim the management structure to make it more simple and efficient. This entails the dismissal of 105 employees in the organisation.
The company has put aside 50 million kroner to implement the dismissals as a one time cost.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
