Swiss Life/Scor

Swiss Life has had to tighten its belt again. The beleaguered life insurer announced the loss of a further 700 jobs between now and 2004. This is in addition to the 800 job cuts the company announced in April of this year. The company is hoping to save SF300mn (US$201.5mn) a year through a series of cost cutting measures that will involve reducing its presence in Belgium, France, Italy, Spain and the UK.