Ex-Prospero redundancy terms under review…

Unite in AXA have approached the company with a view to addressing the banked redundancy terms anomaly affecting ex-Prospero/AXA Direct staff. When AXA Insurance terms and conditions where harmonised in 2001 for staff from the various companies including Guardian, Provincial and Prospero, the banking of redundancy terms, a move taken to protect previously earned benefits, resulted in the small ex-Prospero/AXA Direct  population banking redundancy terms worse than those going forward.

We have opened discussions with AXA Insurance about removing this anomaly to ensure this small group of employees do not continue to be penalised for having an employment history different than the majority of their colleagues.

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