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Axa to make 560 workers redundant | Axa to make 560 workers redundant |
(about 2 hours later) | |
Insurance company Axa is to lay off 560 workers across the UK, including 120 at its largest base in Ipswich. | Insurance company Axa is to lay off 560 workers across the UK, including 120 at its largest base in Ipswich. |
The French-owned firm said that it had decided the cuts were essential to "build a stronger and more efficient business for the future". | The French-owned firm said that it had decided the cuts were essential to "build a stronger and more efficient business for the future". |
Axa hopes many of the job losses can be achieved through "natural wastage" and redeploying staff. It said it would manage the process with "sensitivity". | Axa hopes many of the job losses can be achieved through "natural wastage" and redeploying staff. It said it would manage the process with "sensitivity". |
The company also has offices in London, Bolton, Manchester and Birmingham. | The company also has offices in London, Bolton, Manchester and Birmingham. |
About 1,600 people work at the Ipswich site, which employs staff in sales, claims and administration. | About 1,600 people work at the Ipswich site, which employs staff in sales, claims and administration. |
An Axa spokeswoman said the firm could not yet say which other offices would be hit by job cuts. | An Axa spokeswoman said the firm could not yet say which other offices would be hit by job cuts. |
'Extreme measures' | 'Extreme measures' |
Chief executive Philippe Maso said: "Today, I am announcing important changes in our business which are a necessary step towards profitability. | Chief executive Philippe Maso said: "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. | "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." | "To do this, we must move away from unsuccessful and unprofitable product lines." |
He said the firm needed to "ensure we are in the best shape possible". | He said the firm needed to "ensure we are in the best shape possible". |
"This will mean a reduction in roles in our business and, although we have taken as much action as possible to reduce costs without impacting roles, some reduction was inevitable," Mr Maso added. | "This will mean a reduction in roles in our business and, although we have taken as much action as possible to reduce costs without impacting roles, some reduction was inevitable," Mr Maso added. |
'Disappointed' | |
"Although I am sad that we had to take such extreme measures, I am utterly convinced they are right to build a stronger and more efficient business for the future." | "Although I am sad that we had to take such extreme measures, I am utterly convinced they are right to build a stronger and more efficient business for the future." |
Rob MacGregor, national officer for Unite - which represents workers at Axa, said: "Unite is disappointed that Axa has decided to make 560 job cuts from their insurance division. | |
"Unite will be meeting with our members over the coming days in order to discuss with them the impact of this news. | |
"Now the priority of the union is to work with Axa in order to minimise any compulsory redundancies through opportunities for redeployment within the Axa UK group." |
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