Insurance company AXA UK say they are ready to make up to 500 people redundant through restructuring the business, as it enters the next phase of creating it’s new business model with the creation of eleven strategic business units.
AXA Ireland has already announced plans to cut 120 jobs in an effort to reduce its cost base. The company expects to make a combined annual saving of £80m in three years.
A statement from AXA says;
“As a result up to 500 redundancies are expected to be made within the support services and related functions subject to consultation. The company will manage the process with sensitivity to limit the number of compulsory redundancies where possible by focusing on reducing headcount through natural attrition, redeployment and more efficient use of contractors.”
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