The restructuring of the largest German insurer entered its "hot" phase. About 13,000 employees from Allianz Deutschland AG received, on June 11, 2007, a list of jobs for which they can apply during the three upcoming weeks. After this gigantic replacement program – one of the biggest in the history of German companies – 5,700 jobs will have disappeared by the end of 2008 in the insurer. (Ref. 070515)
“This is an extremely complex operation,” Kathrin Ehrig, spokeswoman for Allianz Deutschland, confirmed to e-europnews. As part of the restructuring plan announced on June 22, 2006 (see our dispatches n° 06642 and 70065) the company indeed radically changed its structures in Germany. Its traditional activities (life insurance, damages and sickness) were gathered in new entities. Out of the 21 German sites, the company only kept 13. Thousands of jobs disappeared, and others were created.
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