Allianz to cut nearly 7,500 jobs in German restructuring.Citing declining market share and the need to improve client services, Allianz Allianz SE[1], (ISIN: DE0008404005; IPA pronunciation: [alli-anz], and formerly AG) is a large financial service provider headquartered in Munich, Germany. A.G. announced a major restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). that will cut up to 7,500 jobs and eliminate 11 of 21 administrative locations in the insurer's Germany base. Allianz said the restructuring effort involves its Allianz Deutschland A.G. and Dresdner Bank Dresdner Bank AG is one of Germany's largest banking corporations and is based in Frankfurt. History 19th century Dresdner Bank was established on 12 November 1872 through the conversion of financial institution Michael Kaskel. units, both based in Germany. The changes call for about 5,000 jobs to be cut at Allianz Deutschland, and 2,480 job cuts at Dresdner Bank. Allianz said the new operating model Operating Model is a term that is used in many contexts. In essence an operating model describes how an organization operates across both business and technology domains. The Operating Model describes what is important for the organization. will be in place by 2008. |
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