Partner Article

Zurich to cut 90 jobs

Zurich is cutting 90 roles from its UK life business as part of cost cutting measures across the group.

Job losses will mostly come from senior management, finance, legal, risk, compliance, operations and marketing departments.

1,400 staff are currently employed in the life arm of the firm, and a 30 days consultation has already begun with those affected.

Despite the cuts, the provider will not be pulling out of any product areas where is currently operates, and the firm is said to be on course for the second quarter.

Last year the firm cut 243 roles from its general insurance business, with some losses coming from customer services, finance and offshore teams.

Commenting on the cuts Zurich Global Life Europe chief executive and UK life business interim chief executive David Sims said: “It is always hard to make decisions which affect our people in this way and we will do everything we can to support them through this process.

“However with today’s uncertain economic outlook, it is more important than ever that we, like all companies, protect our business.

“This enables us to remain competitive and flexible so that we can meet the changing needs of our customers and distributors and provide them with the products and services they need.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .