AXA to cut 700 jobs

Insurance
giant AXA is to cut up to 700 jobs in the UK and is planning to switch jobs to
India.

The
French-owned firm said 220 jobs would be axed at its general insurance sites in
Morecambe and Darlington and 250 posts will go through efficiency measures at
other offices.

Plans
to switch work to Bangalore, India, will result in further job losses of up to
230.

"We
are continually looking at ways in which to become an even stronger player in
an increasingly competitive marketplace, and off-shoring some jobs to AXA
Business Services in India is one of the options," said the company.

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The
announcement follows moves announced earlier by Abbey to close call centres in
the UK and switch work to India.

By Ross Wigham