The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65.1 - Insurance
700 jobs Number of planned job losses
Announcement Date
23 June 2017
Employment effect (start)
23 June 2017
Foreseen end date
31 December 2020
Description
On 23 June 2017, the German insurance company Allianz Deutschland announced it would cut 700 full-time jobs in Germany by the end of 2020.
Early 2017, Allianz already cut 570 jobs through partial retirement, 120 of which were implemented in Germany. The administration of the accident insurance departments will be concentrated in Berlin and Munich. The sites in Leipzig, Hamburg and Stuttgart will close. Additionally, the health insurance department in Berlin will reduce the number of employees on site.
According to Allianz, the restructuring is necessary due to ongoing digitalisation. Several standardised tasks which had been managed by employees will be automated.
Allianz Deutschland employs 29,000 staff members in Germany. As of June 2017, some 900 employees work at the affected departments.
Sources
23 June 2017: Süddeutsche Zeitung (Print)
23 June 2017: Handelsblatt (online)
23 June 2017: Der Tagesspiegel(Print)
Citation
Eurofound (2017), Allianz Deutschland, Internal restructuring in Germany, factsheet number 91371, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91371.
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