EMCC European Monitoring Centre on Change

Zurich

Company/Organisation:
Zurich

Geographic Location

Country: United Kingdom
Region: Hampshire and Isle of Wight; South East
Location of affected unit(s): Whiteley and Southampton

Company

Sector: Financial services
Financial and insurance activities
65 - Insurance, reinsurance and pension funding, except compulsory social security
Number Employed: 1400

Employment Effects

Announcement Date: 03-07-2008
Planned Job Reductions min: 190
Planned Job Reductions max: 190
Type of Restructuring: Internal restructuring

Additional Information

Insurance company Zurich has announced that it is to cut 190 jobs from its offices in Southampton and Whiteley. A consultation period with the Union of Finance Staff is set to conclude in early September though there is no confirmed date for the redundancies to take place. Zurich UK's general insurance chief executive has said that the company must act swiftly to ensure that it remains in a strong and competitive position for the future, and that the company intends to reduce costs while maintaining customer focus.