Axa Investment Managers

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

Description

AXA Investment Managers, AXA's asset management subsidiary, has announced it will cut160 positions in France (out of a total workforce of 1217) in the frameworlk of a worldwide restructuring to cut 210 positions. The consultation of the employees' representative 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 France, factsheet number 94713, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94713.