Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Axa XL has announced plans to cut 275 jobs across the UK, as part of wider plans to cut 711 jobs across Europe following the acquisition of the Bermudan XL group in late 2018. The cuts are part of the business transforming into a single company. The timeframe for the job losses has not been reported. It is understood that there may be some internal redeployment of staff and there will be a voluntary redundancy scheme. The net result will be that 275 UK jobs will be lost.
Eurofound (2019), Axa XL, Merger/Acquisition in United Kingdom, factsheet number 97319, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97319.