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Allianz to cut 700 jobs in Germany in next three years - Sueddeutsche
June 22, 2017 / 10:04 PM / 2 months ago

Allianz to cut 700 jobs in Germany in next three years - Sueddeutsche

FILE PHOTO: Flags with the logo of Allianz SE, Europe's biggest insurer, are pictured before the company's annual shareholders' meeting in Munich, Germany May 3, 2017.Michaela Rehle

BERLIN (Reuters) - Allianz (ALVG.DE) is planning to cut 700 jobs in Germany over the next three years, Sueddeutsche Zeitung reported on Friday, citing company sources.

The cuts are part of a cost-reduction programme involving a total of almost 1,300 job reductions, some of which have already happened through early retirement, the newspaper said.

Allianz wasn't immediately available for comment.

The insurer is also aiming to merge facilities in its operations and claims divisions by the end of 2020, the daily newspaper reported, without giving further details.

Management has said disruptions caused by digitisation have forced the job cuts, a view disputed by many employees who say the insurer's leadership is just trying to maximise profits, Sueddeutsche Zeitung said.

Reporting by Andreas Cremer

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