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Two of the world's largest management consulting firms, Towers, Perrin, Forster & Crosby Inc. and Watson Wyatt Worldwide Inc. announced on June 28, 2009, that they planned to merge.
The $3.5 billion merger could have a major impact on the HR management profession by creating one of the largest global consulting groups that specializes in HR and human capital management. The newly combined company will be called Towers Watson & Co.
Both Towers Perrin and Watson Wyatt provide a wide array of HR consulting services from nearly 200 offices around the world. The exact details of the merger were not released, so it is unclear which offices the new company might be closing or combining. During a press briefing, John Haley, Watson Wyatt's CEO, told reporters that some jobs would be cut to reduce costs and redundant positions.
Haley, who will serve as CEO of the newly combined company, said the headquarters of Towers Watson...