Job losses put to the vote
Healthcare Market News - Axa PPP healthcare has become the latest health insurance provider forced to cut its coat according to its cloth, in a bid to weather the current economic downturn. In a move which smacks of turkeys voting for Christmas, the company has given staff a vote on options for surviving the recession, including 300 redundancies, ending bonuses for up to three years or increasing working hours by 10% without increasing pay.

A spokesman for Axa PPP explained the move as the provider ‘trying to find ways to reduce our operating costs in light of the challenging current economic climate.’ It was stressed, however, that there was currently no threat of widespread redundancies.

The latest news does little to inspire optimism within the sector, following the loss of 48 jobs at Standard Life Healthcare last month, 63 at Unum and 35 at Norwich Union Healthcare, whilst CIGNA Healthcare has stated almost 10% of its UK staff could go as part of a restructuring process.
Robert Potter (16/06/2009)

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