Pacific Life Insurance Co. lays off almost 300 employees in light of COVID-19
"We are constantly evaluating our business to ensure Pacific Life has the right structure to accomplish its goals and best serve the long- term interests of our clients, " a statement from the company stated.
For the record :
11 :30 AM,
"As we work toward transformational goals designed to deliver sustained value to our organization and those we serve, the coronavirus pandemic, the current sustained low interest rate environment and our strategy to improve operational efficiency have created a need to readjust internal resources, " it said.
Affected employees are being offered a severance package and job placement support. About 7 % of the company 's total workforce were let go, company spokesman
Most of the layoffs were immediate and happened last week, but a small portion will occur in the fourth quarter of this year and in the first quarter of 2021. Page said the action largely affects employees in
Pacific Life also has locations in
___
(c)2020 the Daily Pilot (Costa Mesa, Calif.)
Visit the Daily Pilot (Costa Mesa, Calif.) at www.dailypilot.com
Distributed by Tribune Content Agency, LLC.
1 in 6 Pennsylvania voters has a disability. Why don't candidates campaign for their support?
Passionate, well-traveled Trump supporter dies in highway crash near St. Peter
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News