Allianz SE plans to cut 1,500 to 1,800 jobs at Allianz Partners, its Europe-based travel insurance and assistance unit, as the German insurer expands its use of AI tools.

The cuts are expected to happen through severance agreements, early retirement, and other voluntary exits. Allianz Partners has more than 22,000 employees.

Chief executive Tomas Kunzmann said at an event in Munich July 7 that the company had spent the past six months negotiating with workers’ councils.

He said voluntary leave offers had been extended in Spain, France, Germany, Italy, and the Benelux countries.

Allianz Partners has previously warned that AI-driven changes could affect staffing levels and cited the technology as a reason for the cuts.

The move comes as AI is expected to reshape office work.

Bloomberg Economics estimates that 27% of workers in advanced economies could be materially affected by the technology.

🔗 Source: Bloomberg

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