Swiss Re cuts 2,000 jobs

Swiss Re has confirmed plans to further cut approximately 2,000 jobs worldwide, by the end of 2007.
The cuts, which Swiss Re attributes to the integration of General Electric’s reinsurance company Insurance Solutions, will be implemented mainly in European and U.S. positions through attrition.
The remainder of the jobs, Swiss Re says, will be implemented through early retirements and lay-offs.
The job cuts will save the reinsurer approximately US$300 million.