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QBE Profit Result Disappoints As Plans Announced to Move 700 Jobs

  • by The Quotesonline Team

QBE’s chief executive John Neal has announced at a media briefing that the company is considering moving 700 jobs offshore, although he denied that the company was considering forced redundancies , “We can manage that not through major redundancy programs, because we don’t have any, but through natural staff turnover and a reduction on any dependency on third party contractors,” he added.

The Australian based insure says its $US761 million ($741 million) net profit was slightly below guidance provided to the market in November last year, due to greater one-off charges than expected.

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