Type
Internal restructuring
Country
Czechia
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65.12 - Non-life insurance

300 jobs
Number of planned job losses
Job loss
Announcement Date
24 April 2012
Employment effect (start)
1 July 2012
Foreseen end date
31 December 2012

Description

Health insurance company VZP is to cut about 300 jobs out of the total 4,000 staff. Redundancies are scheduled for mid 2012. The company aims to reduce operational costs and cut the number of regional branches by half by 2013.

At the end of 2011, about 520 jobs were lost due to the cost savings plan.


Sources

  • 24 April 2012: LidovĂ© Noviny

Citation

Eurofound (2012), VZP, Internal restructuring in Czechia, factsheet number 73516, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73516.