EMCC European Monitoring Centre on Change



Geographic Location

Country: United Kingdom
Region: Cardiff and Vale of Glamorgan; East Wales; Wales


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

Employment Effects

Announcement Date: 06-07-2011
Planned Job Reductions min: 122
Planned Job Reductions max: 177
Type of Restructuring: Internal restructuring

Additional Information

Insurance company Zurich has announced that it is to reduce its Cardiff workforce by between 122 and 177 posts. The company acknowledged the difficult message for staff and said that Zurich was committed to reducing the impact by using redeployment, natural turnover and voluntary measures where possible. In addition to the job losses in Cardiff the company announced that 78 full time posts would be lost in India and 59 roles in an unspecified location would be lost as contracts expired. No timeline was given for the cuts.