Swiss insurer Helvetia says 500 jobs affected by cost-cutting

Some 500 jobs, including 200 to 250 in Switzerland, are affected by the new operational efficiency measures recently announced by Swiss insurer Helvetia. + Get the most important Swiss news directly in your inbox Some of these jobs will be relocated abroad, the St Gallen-based group said on Friday. Restructuring measures will extend over a period of three years, enabling job cuts to be "significantly limited" through natural fluctuation, internal mobility and requalification measures, a Helvetia spokesperson told AWP on Friday, confirming a report by the Inside Paradeplatz portal. As for online insurance provider Smile, the group has halted its expansion in Spain, wanting first to focus on synergies between its Iberian subsidiaries Helvetia Seguros and Caser. "The relevant teams and customer relations in Spain will be integrated into Helvetia," the spokesperson added in an e-mail. No comment on Germany These decisions have no impact on Smile's strategy in Switzerland and Austria.