EMCC European Monitoring Centre on Change



Geographic Location

Country: Germany


Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding

Employment Effects

Announcement Date: 06-07-2009
Planned Job Reductions min: 4800
Planned Job Reductions max: 4800
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2009

Additional Information

On 6 July 2009, financial service provider Allianz Deutschland announced that 4,800 jobs, instead of the planned 5,700, were to be cut. Job losses were less severe due to the new tasks taken over by the company.

Allianz Deutschland employs around 30,000 employees.