Hamburg-Mannheimer

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
1,000 jobs
Number of planned job losses
Job loss
Announcement Date
15 November 2005
Employment effect (start)
1 December 2005
Foreseen end date
28 February 2006

Description

Hamburg-Mannheimer, an insurance company belonging to Münchener Rück, wants to cut two thirds of its sales staff. The company plans to merge two distribution-lines and expects savings of up to €200 million in the two years.

Sources

Citation

Eurofound (2005), Hamburg-Mannheimer, Internal restructuring in Germany, factsheet number 62519, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62519.