Aon Corporation, the world’s biggest insurance broker and on the employer-of-choice-list of many MBA candidates, plans to cut 1,500 to 1,800 jobs globally as it integrates businesses after the acquisition of consulting firm Hewitt Associates Inc. The Chicago-based company said expects the integration to generate annual savings of about 355 million dollar in 2013. Aon Hewitt, the consulting subsidiary created by Aon’s CEO Gregory Case has about 29,000 employees.
Chief Executive Officer Gregory Case completed the 4.7 billion dollar purchase recently. The acquisition, Aon's biggest, added to the broker's consulting businesses. "There are going to be some redundancies as part of this" acquisition, Case told analysts. "But the focal point, our energies are really going to be around how we build this and grow this." Aon's expenses will be split between 180 million dollar of employee termination costs and 145 million dollar to reorganize real estate, the company said.
http://www.bloomberg.com/news/2010-10-14/aon-says-it-will-cut-as-many-as-1-800-jobs-after-insurer-s-hewitt-purchase.html