Job cut at Axa

Despite a turnover of 3.7 billion EUR (4 billion USD) and operating results of 398 million EUR (435 million USD), Axa Belgique is intent on shedding 650 jobs out of the 4300 staff members in the Belgian subsidiary. This decision became official in early September during the announcement of the group’s new strategic plan.

Axa has invoked the need to rationalize costs in order to justify the job cuts intended. Thomas Buberl, Axa’s new chief executive officer, is sending a strong signal following a recent statement hinting to a review of the group’s staff member composition on a country basis.

Read also:

• Axa ranking first insurance brand in the world
• Axa presents its objectives for the 2020 horizon
• AXA and Chaucer inaugurate their new subsidiary