Axa Investment Managers

Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
France, United Kingdom
Sector
Financial / Insurance/ Estate
66 - Activities auxiliary to financial services and insurance activities
66.3 - Fund management activities
66.30 - Fund management activities
210 jobs
Number of planned job losses
Job loss
Announcement Date
18 June 2018
Employment effect (start)
8 October 2018
Foreseen end date
31 July 2019

Description

AXA Investment Managers, AXA's asset management subsidiary, has announced the elimination of 210 positions worldwide, including 160 in France (out of a total workforce of 1,217) and 40 in the United Kingdom. The consultation of the employees' representatives will continue until the fourth quarter of 2018. The new organisation will then be set up. According to management, departures will be on a voluntary basis. Management plans to invest some €100 million by 2020 to develop its expertise and management offer. This investment will be financed by a savings plan of a similar amount including the announced job cuts.

Sources

Citation

Eurofound (2018), Axa Investment Managers, Internal restructuring in European Union, factsheet number 94712, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94712.