Marsh & McLennan Cos. Inc., the world's biggest insurance brokerage, said last week it would cut 750 jobs, consolidate some locations and revamp its information technology structure to cut costs. The company, which has struggled with profitability since it changed operating procedures after New York Attorney General Eliot Spitzer accused it of bid rigging in 2004, said the actions announced Friday would save it roughly $350 million a year by the end of 2008.
September 20, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Marsh & McLennan Cos. Inc., the world’s biggest insurance brokerage, said last week it would cut 750 jobs, consolidate some locations and revamp its information technology structure to cut costs.
None of the cuts will affect Putnam Investments, Marsh & McLennan’s Boston-based mutual fund unit, said Robin Leibowitz, a spokeswoman for the parent company.
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