Job losses likely, says Marsh parent

Marsh and McLennan, the owner of brokers Marsh and Guy Carpenter, said it would cut up to 900 employees as its second-quarter profit fell by 63.3%. "We have re-established the earning power of Marsh," said president and chief executive officer Brian Duperreault.

In the second quarter, consolidated revenue stood at $2.86bn (£1.55bn), up from $2.55bn from the second quarter of 2007. For the six months ended 30 June, consolidated revenue was $6.1bn, an increase of 10% from $5.54bn from the same peri

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