Business Services Industry
Zurich Financial to close UK online banking service
Internet Business News, Sept 6, 2002
INTERNET BUSINESS NEWS-(C)1995-2002 M2 COMMUNICATIONS LTD
Zurich Financial is to close its UK online banking service next year and plans to cut 4,500 jobs, after reporting a loss of GBP1.3bn for the first half of 2002.
The UK/Asia division of the Swiss insurer employs around 21,500 staff, three quarters of which are in the UK. The announced job cuts would see around 2,000 UK/Asia workers loose their jobs.
A spokesperson for the company has said that the number of job losses in each company is still undecided.
Existing customers to the online service will be compensated for any inconvenience caused and will be given the option to transfer to similar accounts at British bank HBOS. No new customers will now be taken on.
((Comments on this story may be sent to info@m2.com))
Most Recent Technology Articles
- TELECOMMUNICATIONS : TELECOMS PACKAGE LEAVES COMMISSION, EP AND COUNCIL IN DISCORD.
- TELECOMMUNICATIONS : MEPS PRESSED TO FINALISE TELECOMS PACKAGE.
- AUTHORS' RIGHTS : PARIS PUTS GRADUATED RESPONSE' ON AUDIOVISUAL COUNCIL'S AGENDA.
- RAIFFEISEN INFORMATIK BUY OF PC-WARE AUTHORISED.
- MOBILE TELEPHONY : REDING OBTAINS "STRONG AGREEMENT" ON ROAMING.
Most Recent Technology Publications
Most Popular Technology Articles
- What is precision air conditioning and why is it necessary?
- Business process re-engineering in the small firm: A case study
- Base course modification through stabilization using cement and bitumen
- BizRate to monitor in-store customer satisfaction for Office Depot stores - Market Intelligence
- Speed control of separately excited DC motor
Most Popular Technology Publications
Content provided in partnership with http://findarticles.com/source//
Sponsored by Merrill Lynch