At the AXA European Works Council in Paris today, AXA President Henri de Castries was challenged over the quality of jobs being created within AXA in Western Europe and whether AXA was moving to a “McJobs” culture of low pay, low prestige roles driven by a cost cutting culture.

In response he stated that whilst there was a need for everyone to “accept flexibility” there was “no long term benefit to customers and we will not remain successful through poor quality jobs”.

Yesterday a meeting was held between Unite, SIPTU and AXA management in relation to the health of the AXA Ireland Defined Benefit Pension Scheme. As most members are no doubt aware, the scheme is in serious deficit as a result of the collapse on the financial markets and the slow return to growth.

The company have agreed to increase their contributions to the scheme as part of a recovery plan and have outlined a plan to return the scheme to full funding by March 2016. This plan was outlined to the unions, just over a week ago and the meeting yesterday was held to answer the questions the unions had about how the scheme would work and the implications for staff.

All of our questions were answered by the management to our satisfaction. The increased funding of the scheme is being undertaken by the company using a release from their investment portfolio. This plan has been approved by the Board of trustees, the shareholders and the Pensions Board.

Unite in AXA reps from Belfast and Dublin met with National union reps yesterday and the situation in relation to the Derry Service Centre operation was again discussed.

The operation of a low cost non-union premises is not acceptable. The Derry operation serves to undermine the position of staff in Ireland, both North and South, as there is always a low cost alternative to members jobs. This represents a threat to job security either side of the border.

All agreed on a course of action to try and remedy this situation by bringing Unite representation to the Derry operation. By doing so, we can address the contract differences between the operations and forestall any attempts by the company to use Derry as a threat to drive changes in terms and conditions throughout the island of Ireland.