Unite concerned for members as AXA Life announces cost cutting
plans
5th August 2009
Unite, The UK’s largest trade union, has condemned AXA Life’s
plans announced today (Wednesday) to reduce costs by £150 million
by 2012 which will mean a 10 per cent cut in staff - up to 350 job
losses - with most of these taking place over 2009 and 2010.
This has been communicated by AXA Life as part of the company’s
half year results. Unite is in the early stages of consultation
with AXA about these proposals and the union is currently awaiting
full details.
David Kennedy, Unite regional officer, said: “Unite is obviously
extremely concerned about the potential impact of this on our
members. In these difficult financial times, this announcement will
only serve to cause them more anxiety and stress.
“We understand that AXA Life is concerned about its cost base
and level of profitability, however this must not be used as an
excuse for the short term slashing of jobs.
“We will scrutinise and robustly challenge these plans as
appropriate and will expect AXA Life to make every effort to avoid
compulsory redundancies.”
AXA Life currently has around 3,500 employees across sites in
Bristol, Basingstoke and Coventry.
Ends
For more information contact Ashraf Choudhury in the Unite press
office on 07980 224761
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