That amount of people is a small city in the Midwest but nothing much for MMC. I am constantly amazed at the consistent layoffs in this country and wonder what the job landscape will look like ten years from now. I suppose the more layoffs the more disgruntled bloggers we will add to our ranks.
The MMC cuts will “primarily hit Marsh and Mercer Human Resource Consulting. According to MMC they will “seek to create savings on information technology by establishing global centers for service, infrastructure and network operations.”
An analyst for Bear Sterns, David Small, offered a mixed review on the news:
On one hand, this action gives investors a clearer road map as to how the company will begin to expand margins. However, on the other hand, Marsh will be focused on another restructuring program while most of its competitors are finishing their own major restructuring programs and are now focused on their clients and gaining share.
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