Swiss Re, announcing what it called a move to "capture efficiency gains" following its purchase of GE Insurance Solutions, announced last week that it will reduce its global work force by 2,000 through layoffs and natural attrition.
The 17 percent work force cutback at the Zurich-based firm will be a two-step process, the company said, with a reduction first of more than 250–particularly at the management level.
The larger, second phase of layoffs will be completed in the next four months, with an overall work force reduction of up to 2,000 positions that will be completed by the end of 2007, the reinsurer added.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
