GEICO will lay off 2,000 staff, which is 6% of its workforce, and has issued a return-to-office mandate, according to an Oct. 19 article in Insurance Business.
According to the article, GEICO CEO Todd Combs wrote in a letter sent to employees the morning of Oct. 19 that the move allows the company “To better position ourselves for long-term profitability and growth, and after a thorough evaluation across all lines of business, we are reducing our workforce by roughly 2,000 associates, or 6% of our total workforce. This will allow us to become more dynamic, agile, and streamline our processes while still serving our customers.”
Read the entire article here.
