Largest Swiss health insurer plans 500 job cuts

Zurich, Switzerland (GenevaLunch) - Switzerland’s largest health insurance company, Helsana, is reportedly considering cutting 500 jobs, according to an ATS article 10 March. The news agency received a copy of an internal company memo. Helsana had a loss of CHF215 million in 2008, followed by a loss of CHF58m in 2009, and the company’s reserves and capital have fallen in the past two years. The internal note reportedly says that the company’s administrative costs are 10 percent higher than the industry average and increasing efficiency while cutting jobs is now necessary.

The company has not responded to the reports that have appeared in Swiss media today.

Links to other sites: Helsana (Fre), TSR (Fre), Comparis for comparative health insurance in Switzerland