AXA Union News

AXA announce 500 redundancies under Project Jaguar

As you will have seen in his message concerning AXA's half year results, Nicholas Moreau has announced that staff working in Finance, HR and IT functions, whether Shared Services or Op Co, will fall under a review called Project Jaguar. This review aims to save £50million with a potential headcount reduction of 500 staff.

Unite is always disappointed at headcount reductions, however given our good record of working with AXA on business reorganisation (such as Project Libra), we will strive to reduce the impact on employees and minimize the need for any compulsory redundancies through redeployment, voluntary redundancy schemes, reduction in numbers of contractors, addressing spans of control etc.

Whilst the announcement will clearly cause a great deal of anxiety within the functions mentioned, we are hopeful that the need for any compulsory redundancies within the bargaining unit will be kept to an absolute minimum.

7th August 2008

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