Allstate to Lay Off Nearly 4,000 Employees
Oct. 5, 2020—The Allstate Corporation recently announced its plans to lay off approximately 3,800 employees as part of its "Transformative Growth Plan." The Wall Street Journal reported that the layoffs are directly tied to the pandemic, which has resulted in fewer car accidents.
"Somewhere between 25 percent and 30 percent [of layoffs] are due to the fact that we have fewer claims," said Allstate chief executive Thomas Wilson in an interview with the Wall Street Journal.
The employees that will be affected are primarily in claims, sales, service, and support functions.
According to a press release put out by Allstate, the goal of the plan is to increase personal property-liability market share by expanding customer access and investing in marketing and technology.