Swiss insurance group Helvetia Baloise to cut 2,600 jobs

Helvetia Baloise to cut up to 2,600 jobs in three years Keystone-SDA

The newly merged insurance group Helvetia Baloise is expected to cut between 2,000 and 2,600 jobs over the next three years. The Group informed employees on Tuesday about the planned scope of the redundancies.

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This was explained by a company spokesperson at the request of the news agency AWP. The news was first reported by Reuters.

The newly formed Helvetia Baloise, based in Basel, employs a total of around 22,000 people in eight European markets. In the past, the head of the Group, Fabian Rupprecht, had already announced that the merger would lead to a redundancies. Speculation in the media ranged as many as 2,000 jobs being lost.

According to the spokesperson, between 1,400 and 1,800 jobs are likely to be cut in the home market of Switzerland between 2026 and 2028 and 260 to 330 jobs in Germany. The spokesperson went on to say that the cuts in Switzerland would primarily affect Group functions and back-office jobs. A consultation process on the planned reduction will be launched in January.

Adapted from German by AI/jdp

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