Reinsurance broker Guy Carpenter confirmed it is cutting staff globally with some reports saying the cuts could be as deep as 15 percent of the work force.
In a statement, Guy Carpenter, a subsidiary of services company New York-based Marsh & McLennan Companies, also the parent of insurance broker Marsh, said, “As part of a strategic initiative to better position Guy Carpenter for the future, the firm is implementing several organizational changes, including staff reductions in certain areas.
“This decision was difficult but necessary given current market conditions. Guy Carpenter will implement these changes as quickly and seamlessly as possible to maintain its high level of customer service.”
Some reports have put the cuts at 350, other reports put the cuts as deep as 15 percent, which could bring the figure closer to 400.
Alexis Levenson, a spokeswoman for Guy Carpenter, said she could not confirm the reported number of cuts and the figures were unavailable. When asked if customers should see any disruption in service she said the company's statement indicates there would be no disruptions.
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