Social plan agreed for DAS Luxembourg employees
Fifteen jobs made redundant after Allianz Group acquired specialist insurer in early January
A social plan has been agreed for the 15 employees laid off by DAS Luxembourg, according to trade union OGBL.
The employees of the insurance company, specialised in legal protection, will receive financial compensation for the loss of their jobs and support to re-enter the labour market, the trade union said in a statement.
The company, which has had a presence in Strassen, Luxembourg, for nearly 50 years, employs 25 people.
In 2016, DAS Luxembourg had a market share of 18.2% and ranked second on the local market.
On 10 January, Allianz Group announced plans to acquire the assets of DAS Luxembourg from German insurance group Ergo.
The deal saw 15 workers lose their jobs, as Allianz agreed to take on 10 people from the legal and claims departments only.
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