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 65.1 - Insurance
103 - 128 jobs Number of planned job losses
Announcement Date
11 September 2014
Employment effect (start)
1 January 2015
Foreseen end date
31 December 2015
Description
The American international insurance company AIG has announced plans to cut 103 jobs at its French subsidiary, in the framework of a large restructuring. As reported, the cost-cutting measure is also aiming at increasing the quality of its customer services. As announced, the company, taking into consideration some vacant positions and recruitment of new staff, refers to a net loss of 103 jobs, but the unions refer to 128 potential job cuts that refer to 115 employees. Most of the jobs affected are managerial ones.
According to the sources, the negotiation period with employees’ representatives is expected to conclude before the end of 2014 and the job cuts are scheduled for 2015. It is the third restructuring plan since 2010. AIG employs 63,000 employees worldwide.
Sources
11 September 2014: L'Entreprise
11 September 2014: Les Echos
11 September 2014: Argus de l'assurance
Citation
Eurofound (2014), AIG, Internal restructuring in France, factsheet number 77554, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77554.
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