View more on these topics

Axa PPP reduces healthcare for staff

Axa PPP is reducing the amount of private healthcare it gives its staff in a bid to reduce operating costs.

The healthcare provider has introduced a lower cost version of the healthcare cover that it provides to all of its employees as part of a cost-cutting review.

Employees will now only be able to use private provision if they can not get NHS treatment within a six week time frame.

An Axa PPP spokesman says: “This approach enables employers to be confident that their employees can get the treatment they need within six weeks for a lower cost than the more comprehensive cover employers typically provide as a perk for senior managers.”

To cut costs further staff are also being asked to choose between a 5 per cent reduction in salary, a 50 per cent reduction in their annual bonus or an increase in working hours.

The spokesman adds: “We are confident that the measures we are taking will enable us to strengthen our business and ensure a more secure future.”

These provisions will remain in place until 2012.

Recommended

Paradigm Norton stake for Macquarie

Macquarie Bank has taken a minority stake in Paradigm Norton Financial Planning. The Australian bank says it remains “open minded” about further investment in UK IFAs.

UK housebuilders remain a value trap – despite post-Brexit falls

By Mark Martin & Holly Cassell, Neptune UK Equities As investors continue to digest the UK electorate’s vote to leave the EU, Neptune’s Mark Martin and Holly Cassell explain why they believe housebuilders remain dangerously overvalued Click here to view full article Important information  Investment risks  Neptune funds may have a high historic volatility rating and […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment