TalanxAG said April 13 that it aims to slash 330 full-time equivalentsales posts at unit HDI Vertriebs AG by 2020, as part of a broader strategy tostreamline its German retail services business.
The insurer already held discussions in November 2015 withthe works council to cut 600 roles by 2020, primarily at HDI Kundenservice AG.
The headcount cuts are aimed at slashing the cost base by€240 million at the German retail services division by 2020, while the companyplans to invest about €300 million to modernize, automate and streamline thedivision's business processes.
Talanx will also step up its focus on customer groups suchas corporate customers and freelance professionals, it added.
The company's German retail services division has 5,000employees, of which about 1,000 are at HDI Vertriebs.