Willis staff asked to take unpaid leave
Willis Chairman and CEO Joe Plumeri has asked staff of the global broker to take unpaid leave as the latest in a range of cost-cutting measures.
He has invited employees to work a four-day week for less money and offered month-long “sabbaticals” for about 30% of normal pay.
A Willis Australasia spokesman told insuranceNEWS.com.au the voluntary scheme was well received by local staff.
“This fits with our policy, both globally and locally, of moving toward more flexible working and benefit structures,” she said. “It also gives us another tool that allows us to manage our costs as we, like all other professional services firms, navigate these times of economic turmoil and uncertainty.”
Late last year Mr Plumeri told staff salary reviews would be postponed until mid-year and announced cuts to non-critical business development and expenses.
He has invited employees to work a four-day week for less money and offered month-long “sabbaticals” for about 30% of normal pay.
A Willis Australasia spokesman told insuranceNEWS.com.au the voluntary scheme was well received by local staff.
“This fits with our policy, both globally and locally, of moving toward more flexible working and benefit structures,” she said. “It also gives us another tool that allows us to manage our costs as we, like all other professional services firms, navigate these times of economic turmoil and uncertainty.”
Late last year Mr Plumeri told staff salary reviews would be postponed until mid-year and announced cuts to non-critical business development and expenses.