Covid-19: Are brokers taking pay cuts to get through the crisis?
After Aon stated that 70% of its staff are expected to take reductions in salary as the business tackles the economic impact of the coronavirus, other UK brokers reveal a mixed approach to the situation.
Brokers have stated that they are monitoring the financial impact of Covid-19 on their businesses, with several saying that they may need to implement reductions in salaries to deal with the crisis.
This follows a statement published by Aon on 27 April, where the broking giant revealed that around 70% of its staff will be expected to take a 20% pay cut.
In the statement, Aon chief executive officer Greg Case further explained that the firm’s named executive officers including Case himself, CFO
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