EMCC European Monitoring Centre on Change

Axa

Company/Organisation:
Axa

Geographic Location

Country: United Kingdom
Location of affected unit(s): Cardiff; Carlisle; Maidstone; Sheffield; Southampton

Company

Sector: Financial services
Financial and insurance activities
65 - Insurance, reinsurance and pension funding, except compulsory social security
Group: AXA

Employment Effects

Announcement Date: 06-07-2006
Planned Job Reductions min: 150
Planned Job Reductions max: 200
Type of Restructuring: Internal restructuring

Additional Information

International insurance firm AXA has announced 150 job cuts in the UK. The Union Amicus suggests the real figure is nearer 200 however, and has vowed to fight the plans. Amicus said AXA commercial insurance sites in Cardiff, Carlisle, Maidstone, Sheffield have been earmarked for closure. AXA expressed regret at the job losses, and said they were caused by changes to their business model. Regional officer Hugh Jones-Glass said the union would 'robustly challenge' the business case. It plans to focus its argument on the financial reasons behind the cutbacks. Mr Jones-Glass said: 'We are alarmed at the numbers of potential compulsory redundancies and have agreed with the company the implementation of a voluntary redundancy programme in the sites remaining open.' Mark Cliff, distribution director at AXA Insurance, said: 'It is always regrettable when jobs are lost but consolidation in the broker market means that we have to change our operating model and distribution network so that we are better placed to meet both broker and customers' needs by being a real expert friend.'