Marsh & McLennan last week reported that second-quarter net income fell 63 percent compared with the same period last year, but while MMC's CEO said the company's overall results and direction were "excellent," the head of its brokerage unit announced the elimination of 900 positions.

The income drop was attributed primarily to a goodwill impairment charge and loss in investment income. MMC said all lines of business had increases in organic growth, and that overall revenue was up 9 percent.

However, Daniel S. Glaser, chairman and CEO of MMC's Marsh brokerage unit, told investors 900 positions would be cut--most of them in the United States.

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