Allianz subsidiary Allianz Partners plans to cut up to 1,800 jobs in Europe

Glonghui, July 9th｜Allianz Partners, the travel insurance and assistance subsidiary of German insurance giant Allianz, plans to cut up to 1,800 jobs in Europe. Allianz Partners CEO Tomas Kunzmann stated that the affected positions range from 1,500 to 1,800, and will mainly be handled through severance agreements, early retirement, and other similar arrangements. The company has been negotiating with employee committees for the past six months. Voluntary departure plans have already been offered to staff in Spain, France, Germany, Italy, and the Benelux countries. The company had previously warned that AI-driven transformation could impact staffing; this round of job cuts is also directly linked to increased AI adoption.