One major insurance provider has recently offered confirmation that it will be cutting in excess of 100 positions in its Cardiff offices upon restructuring, industry experts recently reported.
Zurich Insurance, upon the launch of its newest online car insurance product, will be restructuring its UK operations by cutting 113 positions at its Cardiff branch. There are other cuts to be made across the UK, with its Leeds offices losing 13 positions and 14 Farnborough-based employees will be made redundant, while the insurer’s Glasgow workforce will be reduced by 39 and an eye watering 163 jobs losses will occur in Zurich’s Whiteley headquarters.
The jobs cuts will not go into effect until 2013, according to Zurich. The insurer intends to minimise the impact as much as it possibly can through voluntary redundancies, natural turnover, and redeployment, though even as the insurer remarked that steps were to be taken to minimise the economic impact of their restructuring, they announced additional plans to cut 51 more positions at its Pune, India call centre over the next two years.
The managing director for Zurich’s personal insurance lines, Karl Bedlow, commented on the new announcement remarking that the insurer recognises that a number of its employees will have to face difficulties in the future due to the insurance provider’s organisational changes. However, Zurich must take steps to ensure the flexibility of its processes and its operational model, Mr Bedlow said, stating unequivocally that the ‘constantly changing market conditions’ in the insurance sector were of higher import than any jobs losses that resulted from the move.