Marsh Mac Reports 4th Quarter Loss; Says Restructuring Plan Could Affect 2,500

March 1, 2005

  • March 1, 2005 at 1:43 am
    Drewboy says:
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    I feel bad for the people that Marsh has/is/will be laying off. Just out of curiousity, does anyone know how many people they employ in the first place, and what line(s) of employees they are laying off?

  • March 1, 2005 at 2:28 am
    slaws says:
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    It’s a sad commentary that 2500 people will lose their jobs but Marsh expects to recover lost revenue within the next year. Who really got punished?

  • March 1, 2005 at 2:34 am
    tom says:
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    where is jeff greenberg in all this, spendind his severence millions and waiting to take over for the old man…what about the 5000 innocent employees

  • March 2, 2005 at 7:00 am
    John says:
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    Do they really need to layoff any more, since so many have gone to Willis, Palmer Cay and others. It must be saving them a bundle in severance packages.

  • March 2, 2005 at 8:21 am
    ex marsh employee says:
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    the lay offs are in both commerical and personal -Marsh has over 100,000 employees worldwide

  • March 2, 2005 at 9:04 am
    Marshian says:
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    100,000 is quite overstated:

    Since our formation in 1871, we have grown into an enterprise with 410 owned-and-operated offices and 40,000 colleagues who serve clients in more than 100 countries.

  • March 2, 2005 at 4:38 am
    Ex Employee says:
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    Laying off 5500 employees for a company that will still make $180MM this year?

    Give me a break.

  • March 17, 2005 at 1:50 am
    Resigned Marcian says:
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    I had the foresight to resign from this mastadonte of a broker before it broke up at its seams. Like all badly engineered mergers on account of the mismanagement of the senior Directors of this corporation there were much needed excuses to pair down its top heavy organisation as it was becoming unmanageable. It is all very well boasting about how many offices and countries one is apparently “servicing” but are they really – I could never understand why the Marsh website stated it was the largest “transactional” broker in the world – the connotation is that they take the money but dont service it – c.f the departments where the redundancies have been made ! As Mr Greenberg of AIG before his sudden exit earlier this week from his Presidency said before last Christmas the company was too big and rife with inefficiencies and in fact this current situation may well work in favour of the company as it now has a good excuse to pair down its number of employees – a bit like the US government saying that the fall in the value of the Dollar is a good thing because it may half the external deficit ! Shame it is the ordinary hardworking decent people in society who have to bear the heavy price of the bad decisions of their “entrusted” leaders !!!



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