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The consultation process regarding layoffs at Sympany health insurance company has been completed. Sympany’s social plan applies to more than 60 terminations. All business areas are affected by the decrease. After completing the consultation process, Sympany informed the Basel-Stadt Office for Economic Affairs and Labor about its results, the health insurance company said in an announcement on Thursday.
Keystone-SDA said upon request that the exact number of terminations could only be determined by the end of 2024. It was initially assumed that a maximum of 74 people would be affected. Of these, 63 are termination and 11 are termination notices. The first layoffs will be announced in October, with more to follow in 2024. However, it is assumed that there will be fewer layoffs than initially anticipated, especially due to natural volatility.
For economic reasons
In September, Sympany launched a consultation process on planned redundancies with the participation of the Human Resources Commission. The layoffs are part of a program to strengthen “the economic sustainability of the company.” The challenging market environment necessitates certain strategic and organizational adjustments, which leads to layoffs for economic reasons. Sympany’s social plan applies to all terminations. At the beginning of October, 632 people were working at Sympany.
Last year, Sympany launched a new brand identity for big money. New managers have now realized that both performance and management costs are very high compared to competitors. Therefore the strategy is being adjusted. But Sympany’s offerings are still prominently promoted in major post offices.
61.5 million francs lost
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. (pbe/SDA)
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.
