Marsh to axe 3000 jobs
Embattled US broking giant Marsh & McLennan plans to cut 3000 jobs, or 5% of its workforce, worldwide, following a plunge in profits. It said that three quarters of the job losses are expected to be in its risk and insurance business. It added that 280 jobs are likely to be cut in the UK.
The company said the job cuts would cost $325m, before tax, over the next six months with a reduction in expenses of $400m a year.The company's third quarter profit fell by 94% to $21m after it set
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
Most read
- Esure offers customers six-months free cover for latest tech glitch
- LV’s Mike Crane leaves insurer
- Big Interview: Jason Storah, Aviva