Zurich to Slash Jobs, Cut Costs
Zurich Financial Services Group's Schaumburg-based North American commercial property/casualty division announced that it will eliminate about 400 U.S. jobs in a move designed to cut costs.
The positions to be cut are primarily from the group that provides support services to the division and represent about 4 percent of the support staff, Zurich said. Most of the job cuts are in the Chicago area.
Zurich's North American commercial group has about 10,500 workers in more than 100 sites across the U.S. and Canada. Of that total, it employs 2,200 people at its Schaumburg headquarters and an additional 500 elsewhere in the Chicago region.
A spokesman declined to elaborate on where the cuts will be imposed, beyond saying that it will be across the entire U.S. operation.
Published on April 16, 2008
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