QBE to shed 700 local jobs

QBE to shed 700 local jobs

QBE to shed 700 local jobs

The insurance giant’s new CEO is set to wield the axe on the firm’s Australian headcount and more than 700 jobs could be gone. What’s the rationale for this severe chop?

According to The Australian Financial Review John Neal is reportedly moving ahead with a cost savings drive across QBE, which is set to result in significant job losses. 

Neal's push is aimed to save $US200 million in annual operating costs and will consider a broad series of job cuts in the New Year. Sources close to the situation reportedly estimate more than 700 jobs could be shed from QBE's local operations under Neal's plan.


 

6 Comments
  • Paul Donnelly 21/01/2013 12:25:50 PM
    No service at present so I guess it can only go one way with 700 less staff!
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  • FlinBroker 21/01/2013 12:40:53 PM
    To all Insurance Company people who push brokers to go online,do it youself and not give service . Be warned this could be Your fate.
    What a loss of some good people though ,many will leave the industry,I hope they go to Brokers
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  • Insurer 21/01/2013 2:06:09 PM
    brokers be careful... Without insurers there would be no brokers, without brokers, well, there would be no brokers....
    Post a reply