ICBC trims down in preparation for competition (September 01, 2001)
September 1, 2001
VICTORIA, B.C. - The Insurance Corp. of B.C. (ICBC) will be cutting up to 800 jobs by the end of the year, in a move that some observers expect to be in preparation for competition.The government-run ...
VICTORIA, B.C. – The Insurance Corp. of B.C. (ICBC) will be cutting up to 800 jobs by the end of the year, in a move that some observers expect to be in preparation for competition.
The government-run insurance corporation has had a monopoly on insurance in the province, but Premier Gordon Campbell vowed during his election campaign to eliminate that situation and allow private insurance companies to compete with ICBC.
The cuts will reduce ICBC’s staff size by 12.5 per cent from 6,400 employees. n
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