EMCC European Monitoring Centre on Change

Allianz

Company/Organisation:
Allianz

Geographic Location

Country: Germany

Company

Sector: Financial services
Financial and insurance activities
65.1 - Insurance
Group: Allianz

Employment Effects

Announcement Date: 14-10-2012
Planned Job Reductions min: 300
Planned Job Reductions max: 300
Type of Restructuring: Outsourcing
Employment Effect Start: 14-10-2012
Other Job Reduction Measures: 300

Additional Information

As announced on October 14, 2012, German insurance group Allianz will outsource 300 jobs.

Ergo and other insurance groups have to face falling prices and saturated markets, especially for life insurances. In 2011, Allianz already announced to cut 400 administrative jobs until the end of 2014 (see Factsheet 19335).