Restructuring events
European Restructuring Monitor (ERM)
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.
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. The company is considering relocating tasks to lower-wage locations in the future
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.
Eurofound (2017), Allianz Technology , Internal restructuring in Germany, factsheet number 91506, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91506.