EMCC European Monitoring Centre on Change

AXA Seguros

AXA Seguros

Geographic Location

Country: Spain


Sector: Financial services
Financial and insurance activities
65 - Insurance, reinsurance and pension funding, except compulsory social security
Number Employed: 2237
Group: AXA

Employment Effects

Announcement Date: 06-03-2023
Planned Job Reductions min: 179
Type of Restructuring: Internal restructuring
Employment Effect Start: 24-03-2023
Foreseen End Date: 31-12-2023
Direct Dismissals: 179

Additional Information

Axa Seguros insurance company has proposed a labour force adjustment plan (ERE) for 179 employees in Spain, representing 8% of the total Spanish workforce. The 30-day consultation period started on 21 February 2023 and will run until 23 March 2023. 

During the first meetings, the insurer has explained its proposal, based on the outsourcing of part of its activity in the existing company premises located in Seville, Palma de Mallorca, Tenerife, Cornella, Vigo, Madrid, Bilbao and Valencia. The company stresses that the adjustment plan is applied for organisational rather than economic reasons

Trade unions have underlined the importance of guaranteeing the voluntary nature of the adjustment plan. Also, trade unions have asked the company for a list of people who may leave the company and called for "more clarity" in order to guarantee a final agreement.