AON CUTS 3,000 JOBS

November 20, 2000

Aon Corp. reported it will cut 3,000 jobs, or 6 percent of its work force, and take up to $325 million in charges over the next few quarters in an effort to overhaul its operations.

Aon’s third-quarter profits rose 1 percent to $139 million, or 53 cents per share, compared to $138 million, or 52 cents, in the same quarter 1999, missing analysts’ forecasts by a penny per share. The company reported it would take between $250 million and $325 million in pre-tax charges for the reorganization, the majority of which would be recorded in the fourth quarter of this year and the first quarter of 2001.

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