Despite record profits, the largest German insurer, Allianz, announced on June 22 in Munich the suppression by 2008 of approximately 5000 jobs in the insurance activity in Germany and 2480 jobs in its banking subsidiary company Dresdner Bank, as part of a massive reorganization plan. In reaction, the trade union Ver.di announced warning strikes. (Réf. 06642)
“These are difficult but necessary decisions to preserve the competitiveness of the group”, said Gerhard Rupprecht, president of Allianz Deutschland AG’s board of directors, in an official statement. He justified the measures by explaining that Allianz had been continuously losing customers as well as market shares these last years. “It would be irresponsible to observe this tendency without reacting”, he added.
Regrouping of activities. The reorganization plan aims at gathering under one singl
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