In light of the economic and social impact caused by the Coronavirus outbreak, Aon, one of the world's leaders in brokerage, is to cut the pays of its employees.
As of 1 May 2020, 70% of the staff will see their salaries reduced by 20%. In return for these salaries' adjustments, the broker undertakes not to lay off any employees. Five executives, including CEO Greg Case, will have their salaries reduced by 50%.
Aon is a British multinational company specialising in insurance and reinsurance brokerage, it employs 50 000 people (2016 figures) and recorded a turnover of 10.770 billion USD in 2018. In 2019, Aon's market capitalization was established at 45.575 billion USD.