ZURICH CONFIRMS POSSIBLE GERMAN JOB CUTS

Swiss insurer Zurich Financial Services has confirmed a report in today’s German business paper Handelsblatt that it is considering a reduction in staff numbers in Germany, The insurer said that the cutting of 1,000 jobs in the German market was “one of the possibilities to save 100m euro in costs over three years”. Zurich Financial Germany spokesman Dirk Mitter said that talks with representatives of employees were continuing and that no firm decision had yet been taken. The Handelsblatt report said that a final decision was not due until late August.