Life Insurance

Allianz lambasts job cut report, says it is “completely fabricated”

Allianz has reacted strongly to recent reports that the insurer is culling as many as 5000 jobs by stating that the reports is “completely fabricated.”

According to the spokesperson for Allianz, the report in in a magazine on supposed job cuts looming in Germany. are completely fake. The spokesperson said that while the company is pushing for automation and digitalisation, there are no plans to axe staff.

According to Reuters, the Munich-headquartered firm denied that it was letting go of people – much less at that scale – in its home market.

The reported number, which the spokesperson called “wrong,” represents about 17% of Allianz’s workforce in Germany, according to the publication.

Globally, as reported by Allianz in its annual HR fact book, the total number of employees stood at 140,553 – 31% of which were based in Germany – as of December 31, 2017.

Chris Davies

Chris Davies is the editor at Insurance Day. Chris was highly active in the insurance industry soon after he graduated from college. After over 10 years of experience in the industry, Chris decided to spread his know how and knowledge about the industry by taking up journalism and landed the job of editor at Insurance Day.

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