In the wake of its acquisition of Hewitt Associates, insurance conglomerate Aon (NYSE:AON) announced plans on Thursday to slash up to 1,800 jobs.
Chicago-based Aon said in a Securities and Exchange Commission filing it plans to eliminate 1,500 to 1,800 positions globally. Aon said most of the job cuts will impact “non-client facing” positions.
The announcement comes two weeks after Aon completed its takeover of human resources specialist Hewitt Associates.
Aon said the restructuring plan will continue through the end of 2013 and is part of the company’s plans to streamline the combined companies.
Aon sees a $325 million price tag on the restructuring plan, mostly surrounding workforce reduction and real estate rationalization costs. It also said it sees annual savings of about $355 million in 2013 from the moves.
Shares of Aon, which were inactive in the premarkets on Thursday, have gained almost 3% year-to-date.