AXA XL announced a new step in integration after the merger, which is expected to lead to job losses in Europe.

AXA XL said that in early February, employees in Europe began transferring to a single operating company and, subject to regulatory approvals, began planning to merge certain legal entities.

The combination of previously separated teams and activities will lead to a possible reduction of 711 positions in Europe, to a workforce of 9500 employees worldwide, according to AXA XL.

On February 12, the AXA XL division presented a concept plan for its target management model and organizational structure to employee representatives in countries where formal consultations are needed. They include France, Italy, Germany and the United Kingdom.

Support measures will be implemented and may include internal redeployment or voluntary deviations, depending on local social requirements or practices, AXA XL said.

"In line with AXA's long-term responsible employers' strategy, AXA XL is committed to supporting its employees during the changeover period and every effort will be made to help them," said Doina Palici-Chehab, AXA Group's Chief Integration Officer. .

"This is a very important next step for AXA XL on its journey to a unified division.This proposed operational target model and organizational structure will help us provide the best services to our customers and provide them with the innovative solutions they need to deliver. succeed, "said Greg Hendrick, CEO of AXA XL.

The integration includes the AXA XL units: AXA Corporate Solutions, AXA Matrix, AXA Art and XL Catlin.


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