AXA to cut 350 jobs in UK life business

In its interim results, published today, the firm revealed it has seen a 2% increased in UK earnings, up to £186m, though life and pensions sales have been hit by the recession. AXA says it is already undertaking a strategic review of its life and pensions operations, with around 350 jobs to be shed. Nicolas Moreau, group chief executive of AXA UK, says the job cuts form part of a three-phase plan to ensure AXA emerges from the downturn as a ‘fitter and stronger' company. "We have made considerable progress in the last six months," he says, "The Insurance business's focus on drivin...