Helvetia Baloise to Cut Up to 2,600 Jobs Post-Merger to Enhance Profitability
Swiss insurer Helvetia Baloise plans to cut up to 2,600 jobs following its recent merger, aiming to boost profitability. The job cuts, expected to occur by 2028, will primarily affect the company's headquarters and local businesses in Switzerland and Germany. The merger, completed recently, was announced in April with a goal of achieving annual cost savings of 350 million Swiss francs, largely through personnel cost reductions. The company employs around 22,000 people and will rely on natural attrition and early retirements to achieve the job cuts. Helvetia Baloise operates in multiple European countries, including France, Italy, and Spain.