Property and casualty (P&C) carriers were responsible for the majority of the layoffs in the US insurance industry in 2023 as the sector shed at least 6,800 jobs, according to an analysis by S&P Global Market Intelligence.
Tag: job cuts
Allstate Cuts 3,800 Jobs as It Speeds Up Last Year’s Revamp
Allstate Corp., the fourth-largest car insurer in the U.S., plans to cut 3,800 jobs as it accelerates a revamp it started last year. The cuts and related office closures will bring a restructuring charge of about $290 million, most of which will be recognized this quarter, according to a filing Wednesday. The cuts amount to… Continue reading Allstate Cuts 3,800 Jobs as It Speeds Up Last Year’s Revamp