Gerling

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Köln, Stuttgart, Berlin
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
500 jobs
Number of planned job losses
Job loss
Announcement Date
23 July 2003
Employment effect (start)
Foreseen end date
1 December 2004

Description

Approximately 12,500 staff are active in over 30 countries for the Gerling Group of Insurance Companies. Through the job suppression, Gerling is hoping to improve its results by 100 millions €. 280 jobs should be lost in Köln, 110 more in Stuttgart and Berlin.

Sources

  • 23 July 2003: Handelsblatt

Citation

Eurofound (2003), Gerling, Internal restructuring in World, factsheet number 59657, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59657.