Swiss Life Approves More Layoffs, One More Indicator Of Global Insurance Troubles
filed in International Insurance News on Nov.26, 2008
Yet another foreign company, Swiss Life is cutting about 200 employees and making other cuts to their budget. The once thriving company is now limping along and its hoping this latest wave of belt-tightening will help them out.
Swiss Life is just one more indicator that the insurance market continues to dive as it gets harder and harder to maintain the assets these companies have. Smaller insurance agencies like Swiss Life are fighting tooth and nail to hold on to their position but its getting increasingly hard to contend with the bigger life insurance companies. Thus the smaller companies have to become more efficient and streamlined or risk probable ruination.
Check out the full article from Forbes here.
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