Australia / QBE could cut 700 jobs

Hundreds of jobs are under threat at global insurer QBE as it prepares to finalise a massive cost cutting plan.

The insurance giant is reportedly considering axing 700 jobs from its Australian workforce as it seeks to slash costs.

QBE on Monday refused to confirm how many jobs could go, but noted that it had flagged in August that it was preparing to reduce costs by $191.27 million.

“Any changes resulting from a review of our operations will be predominantly managed through a combination of natural staff turnover and staff redeployment,” a spokeswoman said.

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via QBE poised to cut jobs.