Allianz job cut figure questioned by central council

New research conducted by Allianz's central works council has raised serious questions regarding the group's planned 5,000 job cuts.

In an interview with Spiegel magazine, Thomas Kroschwitz, who heads up the works council, said that it had requested that the number be reduced to 2,139, which he described as a “realistic target” for the 2008 deadline.

Allianz announced the planned staff cuts in June. A spokesperson for the group expressed surprise at the proposed reduction in the job cuts, highlighting the fact that over 3,000 people alone were scheduled to go from Allianz's property insurance division.