No change on AXA Miles redundancy rules

AXA Group Head Office in Paris has unfortunately rejected a request from Unite in AXA to reconsider the rules on the  AXA Miles shares for employees being made redundant in 2011.

The rules preclude anyone who leaves the company before the maturity date later this year receiving any of the free shares. Unite in AXA asked whether employees who had been given an AXA Miles passport back in 2004 and where made redundant in the few months prior to share release could be given them as some form of ex-gratia award as they had worked for the the majority of the qualification period.

Unfortunately Paris have stated that the rules for the award of the free shares cannot be altered and any employee made redundant prior to the release date will not receive their shares, regardless of how close they are to that date.

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