Allianz Plans to Cut Over 1,500 Jobs as AI Focus Increases

Allianz is planning to cut hundreds of jobs as it focuses on implementing artificial intelligence, Bloomberg News reported Wednesday (July 8), citing comments from CEO Tomas Kunzmann . The layoffs will target the German financial services company’s assistance and travel arm Allianz Partners , the report said. The cuts, which the company expects to come in the forms of severance agreements, early retirements and similar options, will affect between 1,500 to 1,800 positions across Europe, Kunzmann