French insurer AXA to slash 700 UK jobs

15th January 2004, Comments 0 comments

LONDON, Jan 14 (AFP) - The French insurer AXA announced plans Wednesday to cut up to 700 jobs in Britain, some of which will be moved to India.

LONDON, Jan 14 (AFP) - The French insurer AXA announced plans Wednesday to cut up to 700 jobs in Britain, some of which will be moved to India.

"We very much regret having to reduce the number of people who work with us," Peter Hubbard, chief executive of AXA Insurance, a unit of AXA, said in a statement.

"However, through natural attrition and re-deployment it is hoped that the need for any redundancies will be minimal," he added.AXA said it expected 230 jobs to be transferred to India.

Earlier Wednesday the British bank Abbey National also announced plans to shift 400 call-centre jobs to India, joining a rush of firms looking to take advantage of the subcontinent's low-paid but well-educated workforce.

Indian university graduates, whose often impeccable English is a legacy of Britain's long imperial rule over the subcontinent, can be employed in call centres for around a fifth of the wages given to their English counterparts.

© AFP

                                Subject: France news

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