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A clear development at the Basel health insurance company Sympany: 74 employees will be laid off for economic reasons. This amounts to 12 percent of the workforce, business news portal muula.ch reported. The layoffs are expected to be completed by the end of 2024. In 2022, the health insurer still had 656 employees.
The health insurance company, formerly known as ÖKK Basel, has been going through a turbulent period for some time. Over the summer, CEO Michael Willer surprisingly vacated his office after six years. He is said to have lost control of costs and created 200 new jobs. Sympany made a loss of 61.5 million francs in 2022. It is unclear whether the planned mitigation measures will solve the cost problem.
Strategy adjusted
Last year, Sympany launched a new brand identity for big money. As muula.ch writes, new managers now seem to realize that both performance and management costs are too high compared to competitors. Therefore the strategy is being adjusted.
Since this is a mass redundancy, the so-called consultation process is currently ongoing. Employees have until October 19 to submit suggestions on how to prevent layoffs. The fund hopes to get by with fewer layoffs, a spokesperson told muula.ch. (pbe)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
