Paris-based Axa has just completed a major management shake-up.

(Bloomberg) – Axa SA is considering cutting 650 jobs in Belgium over the next two years, as Europe’s second-largest insurer overhauls its range of products sold in the country.

Axa Belgium has presented the plan to unions Monday, Jef Van In, head of the unit, said in a statement Monday. The reductions would represent 15 percent of its insurance employees in the country, where it also operates a banking network.

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