EMCC European Monitoring Centre on Change



Geographic Location

Country: World
Location of affected unit(s): Köln, Stuttgart, Berlin


Sector: Financial services
Financial and insurance activities
65 - Insurance, reinsurance and pension funding, except compulsory social security
Number Employed: 12500
Group: Gerling Gruppe

Employment Effects

Announcement Date: 23-07-2003
Planned Job Reductions min: 500
Planned Job Reductions max: 500
Type of Restructuring: Internal restructuring
Foreseen End Date: 01-12-2004

Additional Information

Approximately 12,500 staff are active in over 30 countries for the Gerling Group of Insurance Companies. Through the job suppression, Gerling is hoping to improve its results by 100 millions €. 280 jobs should be lost in Köln, 110 more in Stuttgart and Berlin.