Analysts Mixed On MMC Future
Despite the reported loss of $676 million in the fourth quarter of 2004 at Marsh & McLennan Companies, investors seemed to take the news in stride since it was accompanied by cost-cutting announcements, but analysts gave the companys recovery program mixed reviews.
Last week, the New York-based parent company of Marsh, the world's largest insurance broker, laid out its plans to return to profitability, announcing a new commission schedule and greater corporate efficiency that will result in the layoff of an additional 2,500 employees.
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