insurance layoffs News

Insurtech Hippo Lays Off 20% of Employees

Insurtech Hippo Holdings said it has “initiated an organizational realignment” by laying off about 120 employees, or 20% of its workforce. The company said in a filing with the U.S. Securities and Exchange Commission on Oct. 26 that it expects …

Liberty Mutual Announces 850 Additional Layoffs

Boston-based global insurer Liberty Mutual has confirmed that it is laying off about 850 workers, or 2% of its workforce, in the U.S. The terminations will be felt in several departments this month and many will become effective by the …

GEICO Lays Off 6% of Workforce and Will Require More In-Office Time

In a letter to employees, GEICO president and chief executive officer Todd Combs said the Berkshire Hathaway company is laying off 2,000 associates, or about 6% of the workforce. “This will allow us to become more dynamic, agile, and streamline …

American Family Insurance Confirms Staff Reductions

American Family has confirmed recent reports of layoffs, saying that it is “working to increase efficiency and manage costs” across its five insurance companies. The insurer did not provide specifics regarding the amount of employees, positions, or companies most affected …

Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges

Farmers Insurance announced it will part ways with approximately 2,400 employees – 11% of its workforce across all lines of business. “Decisions like these are never easy, and we are committed to doing our best to support those impacted by …

Insurance Agency EverQuote to Lay Off Nearly 100 Employees

Online insurance agency EverQuote will lay off nearly 100 employees at its Evansville, Indiana office as part of plans to reduce its non-marketing operating expenses by over 15%. A Worker Adjustment and Retraining Notification (WARN) submitted to the Indiana Department …

Insurtech Root Lays Off 330 Employees as Loss Costs Increase

Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, announced yesterday that it has laid off approximately 330 team members throughout its business. Co-Founder and CEO Alex Timm in an emailed statement cited pandemic losses as factoring …