German insurance group to pare nearly 2,000 jobs
|
|
|
Dusseldorf - Ergo, a subsidiary of the Munich Re insurance group, said Tuesday it would sacrifice nearly 2,000 jobs in a cost-cutting drive at the German retail insurance unit lasting till 2010. Dusseldorf-based Ergo, which offers life, health and general insurance through subsidiary brands, is Germany's second-biggest insurer after Allianz. It currently employs 20,000 people in the country. It said it would eliminate 1,570 existing jobs and leave 360 current vacancies permanently empty and hoped to reduce annual costs by 180 million euros (283 million dollars) thanks to the cuts and better coordination of its business from head offices. Last week Ergo issued an earnings warning, saying weak share prices were hurting its investment returns.
Copyright DPA
|
|
|
|
|
|
Related News
Voter fraud allegations mar Romanian presidential poll - Update
Bucharest- Hundreds of allegations of voter fraud were filed with Romanian electoral authorities by midday Sunday amid voting for the nation's president. The allegations came in from leading parties, including the centre-left Social Democrats (PSD), ...
Romanians head to polls in presidential election
Bucharest - Voters in recession-racked Romania went to the polls Sunday to elect a new president. Conservative incumbent Traian Basescu is seeking a new term. His main rivals are Social Democrat Mircea Geoana and Crin Antonescu, chairman of the Natio...
German Left leader doing well after cancer operation
Berlin - The co-leader of Germany's Left Party, Oskar Lafontaine, was doing well Saturday following an operation for prostate cancer, a party spokesman said. The procedure went successfully. In the circumstances, he's doing well, spokesman Hendrik ...
Afghan Official: German troops in Kunduz are battle-shy
Berlin - German troops are too slow into battle to effectively provide security in northern Afghanistan, the governor of Kunduz province told news magazine Der Spiegel on Saturday. Mohammed Omar said that in Kunduz, where Germany has up to 4,500 sold...
Boat with 200 African refugees arrives in Italy
Rome - A boat with around 200 refugees from Africa arrived at the Italian Mediterranean island of Sicily overnight, Coast Guard officals said Saturday. Coast Guard vessels intercepted the boat around midnight and escorted it to the port of Pozzallo. ...
Russia, Germany stress interest in strategic partnership - Summary
Moscow - Germany and Russia stressed their interest Friday in pursuing their strategic partnership in talks between Kremlin leaders and Berlin's new foreign minister, Guido Westerwelle. Westerwelle, making his first trip to Moscow since his recent ap...
New EU foreign policy chief Ashton to assume office on December 1
Brussels - The European Union's new foreign policy supremo, Catherine Ashton of Britain, will assume office on December 1, earlier than had been anticipated, officials in Brussels said Friday. Ashton received the unanimous backing of the EU's 27 lead...
|
|
|
|
|
| |
|
New Job
By:
Muhammed Saeed Mubarak ,
Sat, 26 Sep 2009 10:57:32 GMT
|
|
Searching new job
|
|
|
|
|
