PartnerRe Ltd. (PRE), a global re-insurer, on Wednesday revealed restructuring measures for its business support operations. The company in a statement said the operations shall be organized into a single integrated worldwide support platform.
Further, the company said the reorganization would entail workforce downsizing of about 140 positions, spread across multiple PartnerRe locations worldwide.
In addition, the company said it expects to achieve pre-tax annual savings in a range between $60 million and $70 million by the end of 2014.
As a consequence PartnerRe said it would have to digest restructuring charges to a tune of $60 million and $70 million, pre-tax, in its second quarter 2013 results.
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