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BackGenerali will lay off 800 people in Germany

Generali will lay off 800 people in Germany

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Bloomberg HT1 hour agoBusiness1 min readTürkiye

Generali will lay off 800 people in Germany

The Italian insurance giant announced that it will reduce its workforce and invest in technology by 2030 as part of its restructuring program.

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The German unit of Italian insurance company Generali announced that it will lay off 800 employees by 2030.
The company stated that the layoffs will be made largely through voluntary retirement and that it will invest 100 million euros in technology and artificial intelligence.

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Why It Matters

Generali has a workforce of 9,100 people in Germany.

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The German subsidiary of the Italian insurance company Generali announced that it will lay off 800 employees by the end of 2030 as part of the restructuring program.

The layoffs correspond to approximately 9 percent of Generali's current workforce of 9,100 people in Germany, according to the company's statement on Friday.

Generali also stated that the layoffs would be carried out mainly through "voluntary retirement arrangements".

The company also announced that it is merging some of its offices in order to reduce real estate expenses as the hybrid working model becomes widespread.

Stating that investments will also be made in the fields of technology and artificial intelligence within the scope of the restructuring program, Generali announced that it will allocate over 100 million euros to these areas.

What to Watch

AI outlook — possibilities, not facts

Layoffs of 800 employees by 2030.
Likely · Within years

Open Questions

It was not specified which departments would be more affected.

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This article was originally published by Bloomberg HT.