UK – Aon is to cut up to 750 jobs in the UK, although the human resources and pensions consulting business will not be heavily affected.
Aon said it has begun a “major restructuring of its UK insurance broking and risk management operations”. It was a bid to realign its business more effectively around its clients' needs in light of the “changing shape of the insurance market”.
It said it would cut up to 750 of its 6,800 UK workforce over the next 24 months.
The move follows an insurance industry bid-rigging scandal last year and the arrival of new chief executive Gregory Case. Aon Consulting would be spared the brunt of the cuts.
The firm said: “In line with plans initiated during 2004 and 2005, Aon Consulting, the HR and pensions consulting business, and the Reinsurance division will continue to implement separate business improvement programmes and will be impacted to a much lesser extent”.
The firm will enter consultation on October 27 with staff. The cuts would come through natural attrition and redundancies.
Aon said the move would enable Aon to realign its UK business to improve the efficiency of its operations and provide improved client service. The biggest change would be to the specialty and risk services divisions.