Progressive Corp. to layoff 341 people
MAYFIELD VILLAGE, Ohio (AP) -- Progressive Corp. said Thursday it is laying off 341 employees as part of a companywide reorganization.
The auto insurer said 263 jobs are being cut from its information technology group and 78 jobs from its personal lines group, where the layoffs are affecting mostly supervisors and managers in the company's sales and customer service call centers, a company statement said.
"We have met with each individual affected, are trying to help them with the transition and will continue to work to help them find other jobs," said Progressive President and Chief Executive Officer Glenn Renwick.
Layoffs won't take effect until Nov. 30. Most of those affected are based in Cleveland, the company said. Progressive has more than 26,000 employees nationwide and almost 10,000 in northeast Ohio.
Progressive shares fell 45 cents, or 2.32 percent, to close at $18.96 on Thursday.
Progressive, based in this Cleveland suburb, is the nation's third biggest auto insurer, ranking behind State Farm and Allstate and slightly ahead on National Indemnity (Berkshire Hathaway), which includes GEICO.
Find thousands of Bilingual jobs at LatPro.com.
The auto insurer said 263 jobs are being cut from its information technology group and 78 jobs from its personal lines group, where the layoffs are affecting mostly supervisors and managers in the company's sales and customer service call centers, a company statement said.
"We have met with each individual affected, are trying to help them with the transition and will continue to work to help them find other jobs," said Progressive President and Chief Executive Officer Glenn Renwick.
Layoffs won't take effect until Nov. 30. Most of those affected are based in Cleveland, the company said. Progressive has more than 26,000 employees nationwide and almost 10,000 in northeast Ohio.
Progressive shares fell 45 cents, or 2.32 percent, to close at $18.96 on Thursday.
Progressive, based in this Cleveland suburb, is the nation's third biggest auto insurer, ranking behind State Farm and Allstate and slightly ahead on National Indemnity (Berkshire Hathaway), which includes GEICO.
Find thousands of Bilingual jobs at LatPro.com.
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