PZU

Type
Internal restructuring
Country
Poland
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
376 jobs
Number of planned job losses
Job loss
Announcement Date
10 July 2012
Employment effect (start)
Foreseen end date
31 December 2012

Description

On 10 July 2012 the Polish insurance company PZU announced a restructuring programme for 2012, which will be implemented in two companies of the group, i.e. PZU (Powszechny Zakład Ubezpieczeń) and PZU Życie. A total of 376 jobs is to be cut by the end of 2012.

Redundant employees will receive a severance pay. PZU has already started negotiations with the local trade unions.

The dismissals are part of a large restructuring programme within PZU Group, which has been carried out since 2009. The programme aims at centralizing the administrative activities and reducing costs. Since 2009 the company has dismissed about 3,600 employees.

Sources

  • 10 July 2012: Rzeczpospolita ()
  • 10 July 2012: Forbes ()

Citation

Eurofound (2012), PZU, Internal restructuring in Poland, factsheet number 73875, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73875.