Germany: Allianz’s management agreed with the works council on the modalities of a restructuring plan which is advancing faster than expected

Engaged in a large operation to reinstate its staff (see our article 070515), Allianz finally agreed with its European works council to restart the operation of job exchange as early as July. On the 5.700 jobs which have to disappear, 4.000 have already been suppressed thanks to amicable agreements. (Ref. 070560)
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The internal restructuring plan scheduled by the first German insurer plans the suppression of 5.700 jobs and the redefinition of the majority of the company’s posts. Concretely, this means that most employees will have to apply to try to find a new position on the Allianz group’s new companies’ flow chart. The list of these new jobs had been presented to Allianz’s employees on June 11, 2007. However, the operation – which concerns 13.000 employees – had been stopped right after its beginning,

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