AXA

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
600 jobs
Number of planned job losses
Job loss
Announcement Date
29 May 2009
Employment effect (start)
Foreseen end date

Description

The German subsidiary of French insurer AXA reported a cut of 600 jobs in 2008 and plans to shed another 600 jobs by December 2010. The job cuts are partially due to a merger with insurer DBV Winterthur in 2006. The new job cutting measures are in response to the financial crisis.

Sources

  • 29 May 2009: Frankfurter Allgemeine Zeitung

Citation

Eurofound (2009), AXA, Internal restructuring in Germany, factsheet number 69033, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69033.