Allianz SE Announces Workforce Reduction and Leadership Changes
Allianz SE, a leading insurance and financial services company, has announced plans to reduce its workforce in the UK by 11%. This reduction affects approximately 650 jobs across multiple business units.
The workforce reduction is part of the company’s efforts to adapt to changing market conditions and improve efficiency. The company aims to streamline its operations and adapt to new regulatory requirements.
Leadership Changes
Allianz has appointed Christian Schulz as the new chief economist. Schulz will lead the company’s global economics and strategy team. This change is expected to bring new perspectives and expertise to the company’s decision-making process.
Market Developments
The company’s stock price has been volatile in recent days. Analysts have suggested that the stock may be undervalued at current levels. However, the introduction of a new US dividend tax, which could impact Allianz’s profits, has also been a concern for investors.
Key Facts
- Workforce reduction: 11% of UK workforce, affecting approximately 650 jobs
- Leadership change: Christian Schulz appointed as new chief economist
- Market developments: Volatile stock price, potential impact of new US dividend tax on profits