Restructuring events
European Restructuring Monitor (ERM)
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.
Nürnberger Versicherung, a German insurance company, will cut around 300 out of 2,700 jobs during the next 3 years. This restructuring forms part of a new company alignment with the company having decided to offer all of its products online. The job reduction will thus affected its office staff, but the company wants to avoid compulsory redundancies.The new restructuring scheme follows the announcement of 170 job cuts due to changes in the company's life insurance business in March 2015 (Nürnberger Versicherung 2015).
Nürnberger Versicherung was founded in 1884 and is based in Nuremberg. Currently around 23,000 employees are working for the company of which 4,000 at its headquarters in Nuremberg.
Eurofound (2015), Nürnberger Versicherung, Internal restructuring in Germany, factsheet number 86014, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86014.