View more on these topics

Axa Insurance axes 560 staff

Axa Insurance has announced it is to axe 560 jobs over the next few months following a strategic review.

In a statement released by the firm today, Axa Insurance chief executive Philippe Maso said a reduction in roles was needed to ensure that the firm was in the best shape possible moving forward.

Of the job cuts, no more than half will be redundancies in the UK. Axa Insurance says is has attempted to reduce the impact on employees by focusing the role reduction on natural attrition and where possible offering redeployment opportunities.

Maso said: “Over the last year I have communicated a lot about my strategic priorities and my intention to review our business activities to focus on customer-centricity, ownership and profitability.

“Today, I am announcing important changes in our business which are a necessary step towards profitability. We must ensure we are growing the right areas of our business. To do this, we must move away from unsuccessful and unprofitable product lines and ensure our operating model is right.”


Unemployment in eurozone increases

Eurozone employment fell by 0.8% in the first quarter of 2009 which accounts for a fall of 1.22m people made unemployed over the period.The pace of the drop in employment increased on a quarterly basis with eurozone posting a decline of 0.4% in the fourth quarter of last year.The latest figures are the third consecutive […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm