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29 August 2023Insurance

Farmers to cut 2400 jobs in strategic play for future profits

US insurer Farmers is to trim 11% percent of its workforce across all lines of business in a strategic move to align the company for sustainable profitability in the future. The company’s chief executive said that “decisions like these are never easy” but are necessary to reduce costs and prudently manage risks given the current macroeconomic environment.

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