Poland's largest insurer PZU officially announced it would restructure its workforce between March and June 2013. PZU and its life insurance subsidiary PZU Życie will cut employment by up to 630 jobs, which is 5.5 percent of the group's total workforce.
A total of 3,145 jobs will be affected by the restructuring process. The company said it would consult the layoffs with trade unions and only then announce the exact number of jobs to be cut. The insurer has implemented several group layoffs over the past few years.
In 2010, the company fired 2,500 people, in 2011 another 1,212 employees were let go. In July 2012, PZU and PZU Życie signed an agreement with their trade unions that allow the companies to carry out group layoffs of up to 955 people at a time.
From Warsaw Business Journal
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