Axa is cutting 700 jobs from its UK operations, and moving some to India to reduce costs. Axa will cut 220 jobs at call centres in Morecambe and Darlington in northern England from its Axa Direct general insurance business, and another 250 general insurance jobs, with compulsory redundancies only where necessary.
230 jobs are expected to move to India. Axa already has about 800 workers in Bangalore, of which 600 support the UK business and the rest its operations in the United States, Australia and Japan.
Axa employs about 10,500 people in Britain, of which about 4,500 work in general insurance. The company also has life and health care businesses in the United Kingdom.
It is estimated that over 50,000 British jobs have been moved to India in the recent past, mainly by insurers but also by retail banks.