The Hartford Cut Workforce by 3,700 in 2013

March 3, 2014

Hartford Financial Services Group Inc. cut its staff by 16 percent last year as Chief Executive Officer Liam McGee narrowed the insurer’s focus.

The insurer had about 18,800 employees as of Dec. 31, a decline of 3,700 from a year earlier, according to the company’s annual filing today with the U.S. Securities and Exchange Commission.

Hartford is “currently focusing on its property & casualty, group benefits and mutual fund businesses,” according to the filing.

McGee sold a life insurer and a retirement plans business last year and is limiting obligations from annuities. Hartford, based in the Connecticut city of the same name, had more than 30,000 employees at the end of 2007.

–Editor: Dan Kraut

 

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Latest Comments

  • March 5, 2014 at 2:26 pm
    Insurance Investor says:
    I was alarmed by the Former Employee statement and decided to research since I have National Acct connections. I heard of one instance where Kevin Finn allowed a 35+ year empl... read more
  • March 3, 2014 at 3:20 pm
    SWFL Agent says:
    Good point but I suspect AARP doesn't care as long as they get paid by Hartford. Plus I think they inked a long term contract. It's too bad that may AARP members blindly follo... read more
  • March 3, 2014 at 2:57 pm
    Former Employee says:
    The Hartford did a horrible job of harvesting the knowledge of the employees they cut loose. In particular, the National Accounts manager, Kevin Finn, dropped the ball letting... read more
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