Magazine date:
Oct 2006 The German subsidiary company of the Italian insurer AMB Generali has announced the suppression of 1 500 jobs in Germany over a two-year period. This move targeting an overall 17 000 staff members is likely to yield a cost reduction of up to 200 million EUR (253.6 million USD).
In parallel to staff release, AMB Generali is revising its results upwards. The company is expecting to achieve results of 450 million EUR (570.7 million USD) in 2006, and not the initially announced 410 million EUR (520 million USD).