Aon Profit Falls 35% on Job Cuts

Chicago’s Aon, the world’s largest insurance broker, said Q4 operating profit fell 35% on costs tied to job cuts, office closures and the acquisition of a competitor.

Profit fell to $123 million, from $188 million in Q4 2007.

The firm has cut jobs and office space as the insurers that Aon arranges coverage with are trimming rates.

On 9/11, 175 Aon employees in the firm’s World Trader Center offices lost their lives.