Liberty Mutual Lays Off 850 Employees; Who All Are At Risk?

WhatsAppWhatsAppFacebookFacebookTwitterTwitterPinterestPinterestRedditRedditGmailGmailShareShare

Liberty Mutual, a diversified global insurer and the sixth-largest property and casualty insurer company in the United States, is set to lay off 850 employees amid lingering recession fears.

The upcoming layoff will affect 2% of the company’s U.S. workforce. A Liberty Mutual spokesman has also confirmed the layoffs. The layoff is a part of a “multi-year transformation.” 

Which workers will be affected by the upcoming layoff? How many workers are at risk? What is the reason behind the layoff? What did the company say?

Who all are at risk?

Around 850 employees are at risk. People working in retail markets and global risk solutions business units will be affected by the upcoming layoff. Employees at technology and other corporate groups will also be laid off.

The lay off will take place by year-end. In July, the company already laid off 370 employees. The company also recorded a net loss of $585 million for the second quarter.

Keep reading

What will laid-off employees get?

Laid-off workers will receive severance and outplacement assistance. They can also apply for other positions within the organization. A Liberty Mutual spokesperson said, “Impacted employees will be eligible for severance and outplacement assistance and are encouraged to apply for other positions within the organization.”

Layoff tsunami has already affected various sectors. In the layoff tsunami, tech companies will lay off hundreds of employees. Tech companies have already laid off hundreds of employees in major cost-cutting measures.

Qualtrics – an American experience management company based in Seattle, Washington, and Utah – is set to fire around 780 employees. Hopper, Inc. a travel booking app and online travel company, has already fired nearly 250 employees. 

Last month, Big Four Accounting Firms also laid off workers. Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and Klynveld Peat Marwick Goerdeler (KPMG) fired many workers in the United Kingdom (UK). Large-scale layoffs affected a lot of workers in Deloitte, KPMG, EY and PwC. 

The layoffs can be conducted because of the slowdown in the current financial year.

About WR News Writer

WR News Writer is an engineer turned professionally trained writer who has a strong voice in her writing. She speaks on issues of migrant workers, human rights, and more.

WR News Writer

WR News Writer is an engineer turned professionally trained writer who has a strong voice in her writing. She speaks on issues of migrant workers, human rights, and more.

Recent Posts

HMRC Uncovers GBP 7.4M in Unpaid Wages – Thousands of UK Workers to Benefit

In a significant act of protecting workers' rights, HM Revenue and Customs (HMRC) have identified over GBP 7.4 million of…

May 30, 2025

P11D Deadline Approaching: What Employers Must Do Before July 6 to Avoid Fines

With a deadline of July 6, employers in the UK are being reminded of their employee benefits reporting obligations or…

May 30, 2025

15th Wage Revision: 6% Basic Pay Hike and Benefits for 1.09 Lakh TN Transport Staff – Know the Details

The government of Tamil Nadu has officially signed the 15th wage revision deal for the 1,09,787 employees of all eight…

May 30, 2025

$5,000 Deal: Smugglers’ Plot to Transport Migrants to San Antonio Uncovered

In a recent case illustrating ongoing challenges in border security, two young men from Brownfield, Texas, pleaded guilty to conspiring…

May 30, 2025

UK Government Unveils Pension Reform: Workers Could Gain GBP 6,000 Boost by 2030

The United Kingdom government has declared considerable reform on pensions that could boost retirement savings of workers by GBP 6,000…

May 29, 2025

Japan to Hire 100,000 Bangladeshi Workers by 2029: A New Horizon for Job Seekers

Japan plans to hire at least 100,000 workers from Bangladesh in the next five years to combat labour shortages. The…

May 29, 2025