NO FURTHER JOB CUTS AT ALLIANZ, SAYS CFO

There are no plans for further job cuts in addition to the 7,500 already announced at German insurer Allianz, according to the company’s chief financial officer Paul Achleitner. In an interview with Suddeutsche Zeitung , Mr Achleitner said that “if we achieve our growth target, we even plan to create more jobs”. In an interview published at the weekend, Mr Achleitner said that the company planned to add 1,500 sales jobs. Nearly all the redundancies and job consolidation planned at Allianz related to administrative posts. Last week Allianz’s staff were called on by trades union Ver.di to stage strikes against threatened job losses in Cologne, Hamburg, Stuttgart and Frankfurt after Allianz’s announcement on June 22 that the number of regional administration centres would be reduced from 21 to 10.