MMC confirms up to 3,750 jobs in danger from JLT takeover
MMC expects a headcount reduction of 2-5% of its total workforce.
Up to 3,750 people could be at risk of redundancy following Marsh and McLennan Companies’ (MMC) purchase of Jardine Lloyd Thompson Group (JLT).
The deal, worth $5.6bn (£4.3bn) in cash, was announced yesterday (18 September) and is expected to close in spring 2019.
MMC stated that there will be “some duplication” between the two businesses, particularly in functional support areas.
Headcount reduction
In a filing to the Securities and Exchange Commission in the United States, the broker
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