The AXA European Works Council secretariat has called on AXA management for the inclusion of social consequences in any future negotiations over the sale of any parts of the business to another party.

In the February bureau meeting today with Group HR, a review of the Friends Provident sale led to this call when the level of compensation to members of AXA‘s Defined Benefit pension scheme was discussed.

Management agreed that it was important that social partners (such as the European Works Council and unions) were involved as early as possible but this can depend on the third party agreeing to this.

At the AXA European Works Council in Paris today, AXA President Henri de Castries was challenged over the quality of jobs being created within AXA in Western Europe and whether AXA was moving to a “McJobs” culture of low pay, low prestige roles driven by a cost cutting culture.

In response he stated that whilst there was a need for everyone to “accept flexibility” there was “no long term benefit to customers and we will not remain successful through poor quality jobs”.