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
190 jobs Number of planned job losses
Announcement Date
3 July 2008
Employment effect (start)
Foreseen end date
Description
Insurance company Zurich has announced that it is to cut 190 jobs from its offices in Southampton and Whiteley. A consultation period with the Union of Finance Staff is set to conclude in early September though there is no confirmed date for the redundancies to take place. Zurich UK's general insurance chief executive has said that the company must act swiftly to ensure that it remains in a strong and competitive position for the future, and that the company intends to reduce costs while maintaining customer focus.
Sources
3 July 2008: BBC Website
Citation
Eurofound (2008), Zurich, Internal restructuring in United Kingdom, factsheet number 66833, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66833.
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