OREANDA-NEWS. "All parties involved are united in their desire to make German life insurance business and property/casualty business more competitive on a sustainable basis. The planned personnel reductions are unfortunately unavoidable in this context. Working in concert with the employee representatives we shall now strive to find a means of implementation that is as socially responsible as possible", Dr Jan Wicke, Chief Executive Officer of Talanx Deutschland AG and a member of the Board of Management of Talanx AG, explained. 

The negotiations revolve around the reduction of some 600 full-time equivalents in total by 2020, primarily at HDI Kundenservice AG. This does not yet take into account the necessary job cuts at HDI Vertriebs AG, which will be determined in the first quarter of the coming year. The Retail Germany division employs around 5,000 staff. The discussions are expected to produce initial results in early summer 2016.
When presenting the business results for the first nine months of 2015 Talanx had already announced organisational, personnel and IT-related restructuring measures in the division. Altogether, an after-tax expense of roughly EUR 70 million is estimated in this regard for 2016. The planned measures form part of an extensive investment, growth and cost programme in the German retail business transacted by Talanx. Significantly increased efficiency through systematic automation and digitisation of business processes is at the heart of the planned measures.