Allstate Releasing 700 Employees

Friday, January 27th, 2006 Catastrophe Risk Management

Allstate Corp., the nation’s second-biggest auto and homeowner’s insurer after Bloomington-based State Farm Insurance Cos., will be offering a voluntary termination program to employees in its corporate office as a way to cut expenses. Spokesman Mike Trevino said that he didn’t know exactly how many will take it, but that he expects the workforce in the home office complex to be reduced by about 10 percent, or 600 to 700 workers. The job cuts are one of several moves that Allstate is making to get its expenses more in line those of competitors, including those who advertise more heavily on television.

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http://www.insurancejournal.com/news/national/2006/01/26/64651.htm

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