Allianz to Cut Up to 1,800 Jobs at Partners Unit on July 7 as AI Expands

According to Bloomberg, Allianz SE announced on July 7 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 be implemented through voluntary severance agreements, early retirement, and other voluntary exits. Allianz Partners has more than 22,000 employees. Chief Executive Tomas Kunzmann said the company had spent the past six months negotiating with workers' councils.
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