Zurich to cut general insurance workforce by up to 900
Zurich has announced that up to 900 people could be made redundant as part of a “significant re-shaping of the company”, putting one sixth of the insurer’s UK general insurance workforce at risk.
The insurer claimed the redundancies, and a review of processes and technology would produce a 10% reduction in costs and give it the opportunity and platform to pursue further growth in the UK market and increase efficiency and effectiveness.
Guy Munnoch, CEO, UK general insurance at Zurich said that the rationale behind the decision was in line with Zurich’s tradition of playing the long game: “Our strategy remains clear. We aspire to be the leading multi-segment, multi-distribution general
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