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Aon has reported a $103mn charge due to workforce reductions

May 09, 2017

Aon has confirmed a $103mn charge relating to workforce reductions in the first quarter. 

Total restructuring costs came to $144mn in the first quarter. It is also thought that a further charge of $104mn is expected from further workforce reductions. These changes are part of a wider change programme across the business. 

Aon has confirmed that it will look to invest $900mn over the next three years in promoting one operating model across the streamlined group. Aon said that over the course of the restructure it is expecting total charges to amount to $750mn, comprising of $143mn in IT rationalisation, $173mn is consolidation charges and $159mn in other costs. Savings from the restructures are expected to total $400mn annually by 2019.