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Liberty Mutual plans 250 more layoffs

Liberty Mutual

Liberty Mutual Insurance Co. confirmed Thursday it will lay off a further 250 people as part of its ongoing restructuring.

The latest job cuts affect staff in its U.S. retail markets and global risk solutions business and other corporate departments, a Liberty Mutual spokesman said in an email.

Positions eliminated will be effective in April or May, the spokesman said. Laid-off staff may be offered other positions in the organization and will be eligible for severance and outplacement assistance if they choose not to pursue them, he said.

Liberty Mutual had already eliminated 850 positions, or 2% of its U.S. workforce, last year. The latest layoffs affect about 0.5% of its U.S. workforce, the spokesman said.

Liberty Mutual also cut about 370 U.S. positions in a reorganization of its personal lines and small commercial insurance business following the sale of units in Europe and Latin America last year.