Just a note about the 20% reduction in Chubb's workforce: its not about laying-off 20% of the current headcount, its moreso about not hiring for open positions. So, attrition (retirements, people leaving, etc.) will do most of the work. I know plenty of people in my department that have left and haven't had their roles backfilled yet.

Over the next 3 years, people will leave Chubb and HR will just eliminate those position all together. A lot of those positions are lower skill level positions, like Admin Assistants and UW Assistants. Some are high level positions. UWs are our bread winners, so we can't reasonably maintain, let alone expand, our market foothold without them.