EMCC European Monitoring Centre on Change

SPB (Société de Prévoyance Bancaire)

Company/Organisation:
SPB (Société de Prévoyance Bancaire)

Geographic Location

Country: France
Location of affected unit(s): Alençon, Le Havre, Bezons, Paris

Company

Sector: Financial services
Financial and insurance activities
66.22 - Activities of insurance agents and brokers
Number Employed: 600

Employment Effects

Announcement Date: 11-06-2020
Planned Job Reductions min: 121
Planned Job Reductions max: 121
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-07-2020
Foreseen End Date: 31-12-2020
Direct Dismissals: 121

Additional Information

The insurance company SPB Group has announced a reorganisation with 121 job cuts in France by the end of 2020 on a total workforce of 600 employees spread over seven sites.  SPB is an European leader in insurance for major brands (Auchan, BNP, Carrefour, Darty, Leclerc, Fnac, Micromania, LCL, Orange, SFR). The reorganisation concerns 68 people at Le Havre, where the group has its head office, as well as a dozen employees in Bezons (Val d'Oise) and Paris, but also the closure of the Alençon site where 51 people work, including ten on fixed-term contracts.  The company was growing, but the crisis at COVID-19 and the shutdown of the economy during the three months of containment caused contracts to fall by 80% and the forecasts for the coming months and years are not good. The CEO is counting on a 15 to 20% drop in turnover for the year 2020. In 2019, the company recorded €200 million in turnover, so it is projecting a loss of €30 million at the end of the year. At the European level, out of the 1,800 employees of the SPB group, 230 jobs will be lost before the end of 2020.  Up to 109 positions will be cut  at its foreign sites, notably in the UK, Spain and Poland.

Several former expansion were recorded in the ERM Database in 2015 (150 job creations),  in 2013 (150 job creations in France and 300 job creations in Europe) and 160 job creations worldwide in 2008

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