Location of affected unit(s)
several workplaces in Belgium
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65 - Insurance, reinsurance and pension funding, except compulsory social security

334 jobs
Number of planned job losses
Job loss
Announcement Date
10 November 2006
Employment effect (start)
Foreseen end date


On 10 November 2006 the management of AXA Belgium announced that 334 jobs will be phased out in Belgium in the framework of the purchase of the Swiss insurance company Winterthur by the French group AXA. The management has put the trade unions' mind at rest about job reduction measures, mentioning that no direct dismissals will take place: 80 workers will leave the company through natural wastage, 100 will receive early retirement and another 100 will benefit from the time-credit system (i.e. a system by which working hours are gradually reduced). In addition, 50 management jobs will also be cut.


  • 10 November 2006: La Libre Belgique
  • 10 November 2006: Les Echos


Eurofound (2006), AXA, Merger/Acquisition in Belgium, factsheet number 64409, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64409.