A major employer in the financial sector is to implement a host of job cuts in the near future, it has emerged.
Zurich announced today (May 31st) that 90 professionals operating in a number of its divisions in the UK - including its senior management, legal, risk, compliance and senor management arms - will face redundancy in the coming months.
The global company - which employs around 60,000 people in more than 170 countries worldwide - has made this decision as part of a firm-wide focus on reducing its operating costs as the global economic downturn rumbles on.
As such, the 90 professionals affected by these cuts have now been notified and will enter into their 30-day consultation period immediately.
David Sims, interim chief executive of Zurich's UK Life business, commented: "It is always hard to make decisions which impact our people in this way and we will do everything we can to support them through this process."
Contact our employment solicitors on 0800 916 9060 or email firstname.lastname@example.org if you would like advice on any employment matter
Posted by Emily Swanson