Ardaf decides: 164 employees at the most will leave company

Ardaf, a top ten insurance company with 100 million-euro losses over the last three years, has agreed with the trade unions to make 164 employees redundant, as opposed to the 200 originally suggested. The insurer, controlled by the Generali PPF holding company, has decided, following an employee assessment, and talks with trade unions, to cut the number of employees by 164, i.e. by 12% in a first stage, Stanislav Uma, the company’s general manager, told ZF. “Both the trade unions and the company’s management have reached an agreement on collective redundancies, which are unavoidable due to the current economic context. Following the talks, we will not make more than 164 people redundant. The only reason behind these redundancies has been the need to improve the company’s profitability,” says Uma. At the end of last year, Ardaf had almost 1,400 employees, from 1,265 at the end of 2007, being one of the biggest employers on the insurance market. The Ardaf management and the union leaders have yet to agree on the redundancy payment to be offered.