Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Information / Communication
Information Service Activities
Information Service Activities
63 - Information service activities

300 jobs
Number of planned job losses
Job loss
Announcement Date
10 July 2017
Employment effect (start)
10 July 2017
Foreseen end date

Description

On 10 July 2017, Allianz Technology, subsidiary of the German insurance company Allianz, has announced it plans to cut 300 jobs in Germany. The job cuts will be implemented through a voluntary redundancy programme. The affected employees will receive a severance pay offer, valid until the end of October 2017.

Although there has been further announcements of job cuts, see (Allianz Deutschland, 2017) and (Allianz Global Corporate & Specialty, 2017), Allianz has no company-wide redundancy programme.

Allianz Technology currently employs around 2,000 people in Germany and around 8,000 people worldwide.


Sources

  • 10 July 2017: Handelsblatt
  • 10 July 2017: fondsprofessionell.de

Citation

Eurofound (2017), Allianz Technology , Internal restructuring in Germany, factsheet number 91506, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91506.