US arm to take the brunt as Aon spells out global job cuts

Aon is to reveal a breakdown this week of the 1,500-1,800 job cuts planned globally in the next three years, including any UK losses.

In a filing with the US Securities and Exchange Commission last week, Aon revealed that 5% of the workforce faced redundancy as part of a restructuring plan related to its acquisition of US-based consultancy Hewitt Associates. The broker did not specify where the cuts would be made, saying only that they would be mostly non-client-facing roles.

Most are expected to be in the USA, where Hewitt and Aon Consulting – the unit with which it is being merged – are based. But it is possible the UK could be affected.

Hewitt derived 10% of its net revenue for the year to 30 September 2009 from the UK, according to an SEC filing. It had 23,000 employees in 32 countries at the end of September 2009.

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source: Insurance Times