Generali cuts 800 jobs in Germany amid corporate restructuring

Italian insurer's German unit announced plans to lay off 800 workers over next four years to boost efficiency through technology investments, aiming to focus on core operations.

Generali stated that technological investments and productivity increases will eliminate the need for certain positions by the end of 2030.

The firm will implement the cuts over four years through early retirement, phased retirement, and natural attrition.

Company management will also guarantee job security until the end of 2030 for employees at its existing operational locations.

Generali plans to invest hundreds of millions of euros into modernization, digitalization, and artificial intelligence, while transferring non-core operational tasks to external partners to focus on core insurance activities.

Under the restructuring, the company will close offices in Aachen, Nuremberg, and Stuttgart to consolidate staff in Cologne, Munich, and Karlsruhe, while establishing new regional hubs in Hamburg and Saarbrucken.