Furloughs. layoffs and a freeze on promotions were already prevalent among European insurance companies, in an effort to curb personnel costs after COVID-19. This according to a survey in mid-2020. Around 60 percent of respondents indicated these measured had already been taken, while over 40 percent also confirmed they had reduced compensation and limited raises and bonuses.
Share of insurance companies in Europe who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action
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Deloitte. (December 3, 2020). Share of insurance companies in Europe who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action [Graph]. In Statista. Retrieved December 25, 2024, from https://www.statista.com/statistics/1192533/insurance-companies-coronavirus-response-europe/
Deloitte. "Share of insurance companies in Europe who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action." Chart. December 3, 2020. Statista. Accessed December 25, 2024. https://www.statista.com/statistics/1192533/insurance-companies-coronavirus-response-europe/
Deloitte. (2020). Share of insurance companies in Europe who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action. Statista. Statista Inc.. Accessed: December 25, 2024. https://www.statista.com/statistics/1192533/insurance-companies-coronavirus-response-europe/
Deloitte. "Share of Insurance Companies in Europe Who Have Taken Actions to Reduce Workforce-related Expenses Due to Covid-19 in 2020, by Action." Statista, Statista Inc., 3 Dec 2020, https://www.statista.com/statistics/1192533/insurance-companies-coronavirus-response-europe/
Deloitte, Share of insurance companies in Europe who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action Statista, https://www.statista.com/statistics/1192533/insurance-companies-coronavirus-response-europe/ (last visited December 25, 2024)
Share of insurance companies in Europe who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action [Graph], Deloitte, December 3, 2020. [Online]. Available: https://www.statista.com/statistics/1192533/insurance-companies-coronavirus-response-europe/
