Layoffs are imminent in the insurance sector as one of the largest insurance firms in the globe, New York Life Insurance will be cutting off 50 jobs in their Austin branch due to their decision to outsource some of the jobs and functions of the company. According to the statement released by the company, the layoff is also in light of their desire to improve their services and for their laid-off employees, they will be given severance pay for their services. It is also said by the company that the job cuts may continue in the future and the first layoff would begin on April 1.
Read more about this here: Layoffs hit Austin office of insurance giant
