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.
Insurance insider aon pay cut. Aon plc aon 0 08 said tuesday it will end the previously announced salary reductions of up to 20 effective july 1. In addition 70 of its global workforce will see a 20. 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 has slashed base salaries in half for top management and will cut around 70 percent of other salaries by approximately a fifth as it battles to save jobs during the economic turmoil created by.
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. The consulting company said it plans to repay employees in full plus 5 of. Aon chief executive greg case in a message to colleagues on monday asked for company wide backing by way of temporary pay cuts. In a statement published today 30 june the business promised that it would repay staff in full plus 5 of the withheld amount.
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. 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. Aon has retracted on its previous decision to temporarily cut salaries across the business by 20 in response to the current pandemic. Aon announced on april 27 that it would temporarily cut the pay by 50 of the company s named executive officers while 70 of its global workforce had their salaries reduced by 20.
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