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Dec 1, 2008

Swiss Re to cut 200 jobs

Swiss Re the world's second-biggest reinsurer, is set to cut around 200 jobs, Swiss daily paper Cash reported on Monday, citing sources.

Cash said Swiss Re confirmed it would make 80 redundancies in IT and 40 in its Financial Markets segment, but did not confirm it would make around 100 job cuts in Client Markets and Products.

"Swiss Re is not planning any wide-ranging, systematic job cuts," Cash quoted Swiss Re spokeswoman Simone Lauper as saying.

Swiss Re was not immediately available for comment.


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