Aon to shed 2,700 jobs
The layoffs are part of a global restructuring plan that will cut down on expenses, Aon said in a filing with the SEC.
Aon Corp., the Chicago-based insurance brokerage, yesterday announced it would lay off 2,700 workers.
The layoffs are part of a global restructuring plan that will cut down on expenses, Aon said in a filing with the Securities and Exchange Commission.
Workforce cutbacks include 1,100 positions that will be outsourced or moved offshore.
Through 2009, the firm will also consolidate its human resources, finance and information technology functions around the world and streamline its real estate structure.
Altogether, the plan will rack up $360 million in pre tax charges.
This is the firm’s second restructuring in less than two years.
Aon also reported its third-quarter results: Net income gained 92%, reaching $204 million or 64 cents per share. That’s up from $106 million or 32 cents per share in the same period last year.
Meanwhile, total expenses gained 3% from the third quarter of last year, hitting $2.1 billion.
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