EMCC European Monitoring Centre on Change

Uniqa

Company/Organisation:
Uniqa

Geographic Location

Country: Austria

Company

Sector: Financial services
Financial and insurance activities
65 - Insurance, reinsurance and pension funding, except compulsory social security
Number Employed: 6000

Employment Effects

Announcement Date: 18-11-2020
Planned Job Reductions min: 600
Planned Job Reductions max: 600
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-12-2020
Foreseen End Date: 31-12-2022
Other Job Reduction Measures: 600

Additional Information

Insurance company Uniqa has announced 600 job cuts by the end of 2022.Most of the job loss will be in Austria. The executive board and the supervisory committee have agreed on a strategy programme called 'Uniqa 3.0', as announced by the company on 18 November 2020. The company has not stated the current COVID-19 crisis as a reason for the restructuring. The majority of the job cuts should be realised by attrition and terminating contracts by mutual agreement. A redundancy programme will be arranged. At present, Uniqa employs around 12,776 staff worldwide, with around 6,000 in Austria.

Sources: