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 jobs Number of planned job losses
Announcement Date
21 September 2011
Employment effect (start)
21 September 2011
Foreseen end date
20 September 2012
Description
The Austrian insurance group Uniqa is to cut 200 out of its 1,000 jobs in its headquarters in Vienna within the next 12 months. This is part of a larger restructuring process with a total of 600 redundancies out of 9,000 administrative jobs in the 21 countries where the insurance company is operating. The step is in part due to duplications in the administrative processes which have resulted from a number of company mergers. Socially acceptable solutions are to be found, according to the company's CEO Mr Brandstetter; dismissals are only to be implemented if no agreement can be found. The company has reserved EUR 80 million for these socially acceptable staff reduction measures.
Sources
21 September 2011: Wiener Zeitung
22 September 2011: Wirtschaftsblatt
21 September 2011: Die Presse
21 September 2011: Der Standard
Citation
Eurofound (2011), Uniqa, Internal restructuring in Austria, factsheet number 72400, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72400.
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.
