Ericsson has consolidated its three private medical insurance (PMI) schemes into one, following its acquisition of Marconi in January 2005.
Since the takeover, the telco has been working to consolidate each of its benefits offerings. It has now moved to one PMI scheme provided by Norwich Union.
Tim Robertson, compensation and benefits manager, explained: “It was purely for a cost purpose.”
The firm now intends to take similar action for its fleet and occupational health schemes by the end of 2006.
The introduction of total reward statements is also under consideration.