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Zurich to cut 4,500 jobs

Zurich Financial Services Group announced it is to cut 4,500 jobs as it reports its half year results.

It says this is part of major strategic and operational initiatives to sharpen its strategic focus, by concentrating on core insurance markets in the US, UK and Europe, improve operational efficiency, strengthen its balance sheet and improve management of the capital base.

It has not said where these job losses will be or which type of jobs will go.

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