EMCC European Monitoring Centre on Change

Zurich

Company/Organisation:
Zurich

Geographic Location

Country: United Kingdom

Company

Sector: Financial services
Financial and insurance activities
65.1 - Insurance

Employment Effects

Announcement Date: 09-11-2015
Planned Job Reductions min: 440
Planned Job Reductions max: 440
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-03-2016

Additional Information

Insurance company Zurich has announced plans to cut 440 jobs from its UK operations.  It has done so in response to an increasingly challenging market.  The changes will alter the operating structure and reduce costs, though there is no information on the types or grades of jobs which will go.  The losses are intended to come from a number of sites; it is reported that 135 will be from the company's Cheltenham offices.  Consultation with employee representatives has started and it is expected that the job losses will be complete by the end of Match 2016.