Aon to Cut 1,500 Jobs After Hewitt Merger

The insurance conglomerate Aon Corp. says it will cut 1,500 to 1,800 jobs over the next three years after acquiring Hewitt Associates.

The Chicago company says the cuts and other restructuring will be complete at the end of 2013. It expects to save $355 million per year, including $280 million per year by eliminating jobs.

Aon closed its acquisition of Hewitt Associates, a human resources specialist, this month. The combined company had about 29,000 employees. The job cuts announced Thursday will trim 5 percent to 6 percent of that work force.

The company says the plan will cost $325 million to implement.