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Daily Job Search Video by Employment Potentials
By EmploymentCrossing.com
http://www.EmploymentCrossing.com
Having completed its acquisition of the UK-based Benfield Group, Aon Corporation has announced plans to reduce its global headcount by 700 as the businesses merge.
London's Benfield is the world’s third-largest reinsurance broker, while Chicago's Aon is the world’s largest insurance broker.
Benfield will merge with Aon’s existing reinsurance operations, to form Aon Benfield.
The transaction will extend Aon’s presence in developing markets in Asia and Latin America, and should also boost the group’s standing in property catastrophe markets in Florida and the south-eastern states of the US.
Up to 17% of the combined workforce will be cut, with back office jobs most likely to be affected.
The restructure is expected to save up to $41 million in 2009, $94 million in 2010 and $122 million in 2011.
The acquisition was made for $1.43 billion, or $320 million below the price announced in August, because of a stronger US dollar.
Click here for more information on public relation jobs in your area.
Aon to Cut 700 jobs in Merger with Benfield
By EmploymentCrossing.com
http://www.EmploymentCrossing.com
Having completed its acquisition of the UK-based Benfield Group, Aon Corporation has announced plans to reduce its global headcount by 700 as the businesses merge.
London's Benfield is the world’s third-largest reinsurance broker, while Chicago's Aon is the world’s largest insurance broker.
Benfield will merge with Aon’s existing reinsurance operations, to form Aon Benfield.
The transaction will extend Aon’s presence in developing markets in Asia and Latin America, and should also boost the group’s standing in property catastrophe markets in Florida and the south-eastern states of the US.
Up to 17% of the combined workforce will be cut, with back office jobs most likely to be affected.
The restructure is expected to save up to $41 million in 2009, $94 million in 2010 and $122 million in 2011.
The acquisition was made for $1.43 billion, or $320 million below the price announced in August, because of a stronger US dollar.
Click here for more information on public relation jobs in your area.
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