Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65 - Insurance, reinsurance and pension funding, except compulsory social security

400 jobs
Number of planned job losses
Job loss
Announcement Date
30 November 2011
Employment effect (start)
30 November 2011
Foreseen end date
31 December 2014

Description

German insurer Allianz announced on 30 November 2011 plans to cut 400 out of 2200 jobs.

This is due to a new concern strategy to ensure growth. As reported in the press release, the job reduction measures are supposed to take place by natural fluctuation.


Sources

  • 30 November 2011: Handelsblatt
  • 1 December 2011: Frankfurter Allgemeine Zeitung
  • 30 November 2011: Allianz

Citation

Eurofound (2011), Allianz, Internal restructuring in Germany, factsheet number 72803, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72803.