Dutch financial services group Fortis said today its insurance division will cut 750 jobs, or 14 per cent of its workforce, over the next three years.
The job cuts are part of the integration of Fortis's eight insurance companies. The units where the redundancies will occur will be announced over the next few months.
Fortis, which reported a €450 million net loss in the first quarter, planned to confine these job cuts to natural attrition as much as possible.