After representations by Unite in AXA, and other employee representative groups in AXA UK, the company have advised that they “won’t be expanding the scope of the one-off £1k cost of living payment”.
They said that they “recognise that all employees are making difficult decisions about how to save money and juggle their finances, and understand the approach taken own’t solve everyone’s household budget challenges” and that in their opinion “no solution… will be perfect”. They “feel the package launched was the most sensible balance between the needs of employees, who are more likely to vulnerable vs. protecting the commercial health of the business”.
We are disappointed with this response, given the divisive binary nature of the threshold that upset many members, especially those unfortunate to fall just above the line, as well as the where this line was drawn. We will however continue to campaign for further and ongoing cost of living provision from the company, and do not regard this payment as all we are expecting to see AXA do to support its staff during this increasingly difficult time.