Insurance Insider Aon Pay Cut
Aon chief executive greg case in a message to colleagues on monday asked for company wide backing by way of temporary pay cuts.
Insurance insider aon pay cut. Aon announced it will temporarily cut the pay by 50 of the company s named executive officers in response to the covid 19 crisis. The broker on may 1 originally asked 70 of its employees to take a 20 pay cut anticipating a worst case scenario from the pandemic a move that came under. Aon plc aon 0 08 said tuesday it will end the previously announced salary reductions of up to 20 effective july 1. Greg case has defended aon s short lived decision to cut staff salaries by a fifth in response to the covid 19 pandemic in an interview with the financial times.
In a statement published today 30 june the business promised that it would repay staff in full plus 5 of the withheld amount. The consulting company said it plans to repay employees in full plus 5 of. Up to 70 per cent of aon s staff will be taking a temporary pay cut of 20 per cent aon a global insurance broker and risk adviser has a substantial operation in bermuda and is a major captive. Case said in a letter to.
Aon has retracted on its previous decision to temporarily cut salaries across the business by 20 in response to the current pandemic. Case s statement which was included in a form 8 k filing with. Aon plc is imposing an approximately 20 salary cut on about 70 of staff due to the covid 19 crisis and ceo greg case and other senior executives will take 50 cuts mr. Aon chief executive greg case has defended the company s decision in may to cut staff salaries noting they made fact driven decisions says a report by the ft.
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