Marsh Inc

Type
Internal restructuring
Country
France
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
65 - Insurance, reinsurance and pension funding, except compulsory social security
119 jobs
Number of planned job losses
Job loss
Announcement Date
2 March 2005
Employment effect (start)
Foreseen end date

Description

The world's largest insurance broker, Marsh and McLennan, cut its dividend by half and warned of more job cuts after posting a quarterly loss related to charges from a settlement of a bid-rigging scandal. In October 2004, Marsh had already announced 3000 job cuts worldwide. On 2 March 2005, it was announced that in fact 5,500 jobs would be suppressed worldwide. This job cuts concerns 119 jobs in France and management is to reorganize its sites in order to strengthen its strongest activities.

Sources

  • 3 March 2005: La Tribune
  • 2 March 2005: Les Echos
  • 18 April 2005: Les Echos

Citation

Eurofound (2005), Marsh Inc, Internal restructuring in France, factsheet number 61243, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61243.