Marsh & McLennan Cos. will be eliminating 900 positions, the majority being in the third quarter of 2008.
The second-quarter net income has decreased 63 percent compared with 2007; it is now $65 million compared to $177 million last year. The net income for the first half of the year is down 133 percent with a loss of $145 million.
Their shares rose Wednesday following the job cuts and after their quarterly profits were higher than analysts' predictions. Marsh & McLennan stock has risen 2.5 percent this year on the New York Stock Exchange.
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