British insurance giant to cut 350 UK jobs

A further 350 jobs are to be cut at British insurance giant Axa as the group’s UK arm ramps up annual cost savings to £150m (€176m), it was announced today.

The reductions are planned within Axa UK’s life business, which has offices in Bristol, Basingstoke, Coventry and an offshore base in the Isle of Man.

Axa said it was extending a three-year cost cutting programme announced last August, from £80m (€94m) to £150m (€176m).