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 - Insurance, reinsurance and pension funding, except compulsory social security
200 - 250 jobs Number of planned job losses
Announcement Date
25 April 2007
Employment effect (start)
Foreseen end date
31 December 2009
Description
On 25 April 2007, the life insurance provider Alte Leipziger announced its plans to cut between 200 and 250 jobs by the end of 2009. The job cuts are part of the company's decision to reduce costs by 30 million Euros in order to improve its competitiveness. Alte Leipziger stated that it seeks a socially acceptable solution with regards to the jobs to be cut. The company currently employs a workforce of 1,250 people in Germany.
Sources
26 April 2007: Financial Times Deutschland
26 April 2007: Handelsblatt
Citation
Eurofound (2007), Alte Leipziger, Internal restructuring in Germany, factsheet number 65281, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65281.
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