Belgium: Axa intends to cut 650 jobs by 2018

9 years ago - Published in Finance, Fundamental Analysis

The insurance giant Axa, Belgian division, announced to the staff that by 2018 will remove 650 jobs as part of a strategic plan that aims to "focus its activities" and to "accelerate the digital transformation."
Concurrently, the company has planned investment of 200 million Euro over 5 years for the strengthening of mobile services offered, while expenditures related to logistics, IT and geographical presence will be reduced. Axa Belgique will transfer the activities of Charleroi, Leuven, Gand and Eupen in the Antwerp offices (north), Liege (south-east) and Brussels.

The group promises a "responsible social dialogue" with unions in the coming weeks. The announcement of the cuts is a big blow for employment in Belgium, where last week the closure of the Caterpillar plant in Charleroi was announced, where they will be eliminated 2,000 jobs and another 4,000 in supply companies are threatened.