Insurance giant Axa has announced plans to cut 350 jobs despite a 2% rise in its UK profits. The insurer said the jobs are being axed to streamline costs and ensure it emerges “fitter and stronger” from the recession. Redundancies will be made at Axa Insurance UK’s life business unit, which has offices across the UK including [...]
I think that companies at the moment, despite whether they have made a profit recently, are still tring to save as much cash as possible because no one knows what is going to happen in the future. Organisations need to cut their overheads as much as they can to achieve great profit.....so more job losses in companies that are doing marginly well in this recession doesn't surprise me at all.
I personally think at the moment all companies are being over cautious and stream lining everything to save a penny... or two for the 'just in case'! I mean realistically half the job cuts are not needed are they? Or am I wrong?
AXA announces job cuts despite rising profit
