Italy's Generali cuts around 800 jobs in Germany

By Reuters News

MUNICH, Oct 23 (Reuters) - The German subsidiary of the Italian insurer Generali GASI.MI said on Friday it would cut 800 jobs by the end of 2030 as part of a restructuring programme.

  • The reduction represents about 9% of its current workforce of 9,100 employees

  • The company said it would mainly implement the workforce reduction through retirements and attrition

  • The insurer also said it was consolidating some office locations to lower property costs amid increased hybrid working

  • Generali will invest more than €100 million ($112.07 million) in technology and AI, it said

($1 = 0.8923 euros)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.