In a letter to employees, Chief Executive Greg Case said effective May 1, the professional services company's named executives will take a 50% salary cut, while 70% of employees will take a 20% salary reduction. The company said it has also curtailed spending on contractors and third-party vendors and has reduced discretionary expenses related to client service. Aon said it intends to preserve its dividend.
Aon to Cut Salaries of Most Employees, Suspends Stock Buybacks
Aon PLC said Monday it was cutting salaries of its executives and most of its employees, and suspending its stock repurchase program, as it looks to preserve financial flexibility amid the COVID-19 pandemic.
Source: MarketWatch | Published on April 27, 2020
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