Allianz Partners Confirms 1,800 Job Cuts Eight Months After Reuters Report

CEO Tomas Kunzmann confirmed on July 8, 2026 that Allianz Partners will eliminate 1,500 to 1,800 jobs across Europe over 12–18 months, driven by AI deployment in claims and customer service. Reuters reported the plan in November 2025; the official confirmation ends months of employee consultation required under European labor law. The restructuring frames headcount reduction as technology-driven margin expansion, not cost-cutting from weak underwriting.