AXA Wealth has cut its sales team by 30 staff in a bid to restructure the business following the completion of several projects.
The job cuts make up approximately 10% of the company's sales force and comprise ten front line and 20 support staff roles. The roles have been cut because AXA has completed its work around the Retail Distribution Review (RDR) and successfully separated AXA Wealth from Friends Life, a job that has taken three years. The company's Elevate platform has also reached maturity and now has 'straight-through processing' according to a spokesman, meaning less staff are required to manage it. A spokesman said: "The job cuts are a result of a natural evolution, however, we are in a strong p...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
