AXA Investment Managers, AXA's asset management subsidiary, has announced it will cut160 positions in France (out of a total workforce of 1217) in the frameworlk of a worldwide restructuring to cut 210 positions. The consultation of the employees' representative will continue until the fourth quarter of 2018. The new organisation will then be set up. According to management, departures will be on a voluntary basis. Management plans to invest some €100 million by 2020 to develop its expertise and management offer. This investment will be financed by a savings plan of a similar amount including the announced job cuts.