Jobs lost as axe falls at Zurich in Whiteley again

Zurich offices at 3000 Parkway, Whiteley.
Zurich offices at 3000 Parkway, Whiteley.
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More than 50 jobs will be lost as part of a cost-cutting exercise at an insurance firm.

Zurich has already begun consulting with its employees as it looks to axe 440 posts from its UK general insurance business across the country.

Fifty-six of these posts will be cut from its Whiteley office at 3000 Parkway.

A statement from the company said it was looking to simplify its operating structure and that it would be supporting employees.

It said: ‘There are two main drivers for these changes. Firstly, the organisation needs to become a less expensive operation in order to remain competitive, and aims to reduce costs by at least £40m over the next two years in the UK.

‘Also, feedback from customers and brokers suggests a more straightforward business model is necessary.’

Last week it announced a 48 per cent fall in operating profit for the third quarter of 2015 to £92.6m compared to £178.8m for the same period last year.

Zurich said the current round of redundancy was under way and that it would continue until March.

In November 2013, 94 posts were axed from the same Whiteley offices.

In April 2012, 163 customer services and claims jobs were also lost in Whiteley.

Meon Valley MP George Hollingbery MP said: ‘I am very sorry to hear this news, especially with it coming so close to Christmas time.

‘Luckily, we have a thriving economy here in the south east, so I very much hope that those who are to lose their jobs will pick up work quickly.’