AXA IM to Cut Jobs, Launch EUR100 Million Investment Program
18 Juin 2018 - 5:19PM
Dow Jones News
By Nathan Allen
AXA SA's (CS.FR) investment-management arm, AXA Investment
Managers, said Monday that it will cut around 200 jobs to fund a
100 million-euro ($116 million) investment program aimed at
simplifying the group's structure and introducing a new operating
model.
The investments will be funded by savings, which could result in
around 160 job cuts in France and 40 in the U.K., AXA IM said. The
company said it planned to minimize layoffs among portfolio
managers to reduce the impact on clients.
The group said it plans to further invest in its alternative and
specialty-investment expertise, while boosting synergies with its
core investment expertise.
AXA IM also said that Mark Beveridge, Christophe Coquema and
John Porter will step down from the company's management board.
The operation should be completed by the end of the fourth
quarter, the company said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
June 18, 2018 11:04 ET (15:04 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Axa (EU:CS)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Axa (EU:CS)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024