EMCC European Monitoring Centre on Change

Zurich Insurance

Company/Organisation:
Zurich Insurance

Geographic Location

Country: United Kingdom

Company

Sector: Financial services
Financial and insurance activities
65.1 - Insurance

Employment Effects

Announcement Date: 19-01-2017
Planned Job Reductions min: 240
Planned Job Reductions max: 240
Type of Restructuring: Internal restructuring

Additional Information

Zurich Insurance has announced plans to cut 240 jobs from its UK workforce. The insurer has decided to merge parts of its life and general insurance functions, which will result in lower demand for staff. Roles will be cut from back office positions such as finance and marketing. A statutory consultation period with affected staff has already started. This latest restructure follows a decision in the global business in 2016 to reduce the number of executives, which resulted in around 350 job cuts in the UK.