Swiss Re Plans To Axe IT Workers

Swiss Re Plans To Axe IT Workers

Swiss Re, a colossal insurance company, is slated to sack 10 percent of its workforce next year as part of a move to integrate its IT and business-support services. The firm prepares to shift its IT support services to a much bigger office, providing support for smaller branches. 
 

Swiss Re’s latest workforce movement is designed to streamline its business and enhance operational effectiveness. The company seeks to save £239m by the end next year, thus the need to cut some of its redundant jobs. It has currently 11 560 workers from all offices, which will eventually be trimmed down as the recession takes its toll across all industries. 

 

Another insurance firm, RSA, will be retrenching 1,200 jobs in the UK, including IT support providers. Credit Suisse takes its own share of job cuts, letting off 650 workers, and Citigroup intends to reduce its staff by 20 percent.