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Swiss Life May Cut Jobs in Germany

Posted on 11 Sep 2009

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Swiss Life Holding AG may cut jobs in Germany after announcing 520 staff reductions in Switzerland last month, Chief Executive Officer Bruno Pfister was quoted as saying by Bilanz.

The insurer can’t fire people in Germany until 2011, Pfister told the magazine in an interview. In France, the company wants to “freeze” costs at the current level. Swiss employees will be notified of job cuts by the beginning of October, he said.