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French insurer AXA to cut about 250 technology jobs in Hong Kong -sources
August 25, 2017 / 9:31 AM / a month ago

French insurer AXA to cut about 250 technology jobs in Hong Kong -sources

HONG KONG, Aug 25 (Reuters) - French insurer AXA SA is cutting about 250 jobs from its information technology (IT) operations unit in Hong Kong, as part of a cost reduction exercise, according to two people with direct knowledge of the matter.

Under the restructuring programme, AXA is setting up one IT centre each in Manila and Kuala Lumpur, said the sources.

AXA plans to hire a total of about 400 people for these two new centres, one of the sources told Reuters. Currently, all of AXA’s Asia IT operations are managed out of the Asian financial hub of Hong Kong, the source said.

The sources declined to be named as they were not authorised to speak to the media about the internal restructuring.

“AXA Asia constantly reviews its business practices to improve our product offering and service to customers,” said Europe’s second-largest insurer in an emailed statement to Reuters.

“We have built a strong Asia technology platform and are working on improving those capabilities, which will involve the rebalancing of some roles in the region.” (Reporting by James Pomfret and Sumeet Chatterjee)

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