Allianz cuts 150 employees in strategic overhaul

Allianz Global Investors (Allianz GI) has cut its staff numbers by 150 as part of a strategic overhaul of the business.

The reduction brings the number of employees at the firm down to 2,650, the Financial Times reports. Changes to staff numbers come after Allianz announced it will reduce the number of its global corporate entities. It plans to outsource a greater number of IT, middle and back-office roles, in line with the recent cuts. However, a spokesperson for the company said in some cases non-investment focused staff have relocated in Allianz Group. Although the total headcount has come down in the past 18 months, Allianz GI has expanded the number of investment professionals in a number of di...