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
195 jobs Number of planned job losses
Announcement Date
13 September 2019
Employment effect (start)
Foreseen end date
31 December 2019
Description
Insurance company Simplyhealth has announced plans to cut 195 positions from company's sites in Andover and Winchester. The restructuring is part of a new business model, which is expected to improve company's performance, according to the management. The plans are subject to the statutory 45 days consultation period, which has already begun. According to a member of staff, redundancies are expected to happen before the end of 2019, though the company has not confirmed this, and more will be known at the conclusion of the consultation.
Currently the Andover site employs 850 staff and the Winchester site a further 250.
Eurofound (2019), Simplyhealth, Internal restructuring in United Kingdom, factsheet number 98873, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98873.
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