Ergo plans to reduce about 200 jobs per year in Germany through 2030. The insurer reached this agreement with employee representatives as part of an interest‑balance process reported by “Handelsblatt”. Throughout this period, company‑driven terminations are excluded. Currently, Ergo employs roughly 17,000 people in the country.
The company faces “complex challenges” stemming from a volatile market, demographic change, and the technological upheaval brought on by artificial intelligence (AI). According to chief HR officer Lena Lindemann, the expanded use of AI will mean that certain functions will be needed less in the future.
Job cuts will be carried out through natural turnover, partial retirement plans, and severance programs. Voluntariness will remain the central principle; “no one will be forced to leave against their will” Lindemann said. At the same time, Ergo intends to qualify employees for new roles. About 500 reskilling positions are planned, with roughly 260 already launched this year. “We want to unlock the efficiency potential of AI while enabling employees to work in other jobs for us” she added.
This savings plan is part of Munich Re’s 2030 strategy. The group aims to cut costs by €600 million by that year. For the current year, Munich Re targets a net profit of €6.3 billion-€300 million more than the 2025 objective. Ergo is expected to contribute roughly €900 million to the overall result.