Mass Mutual lays off workers, more in offing

Massachusetts Mutual Life Insurance Co. has laid off 53 individuals in its retirement income sales division, according to a spokesman with the insurer.
That, along with 65 other layoffs last week, brings the total number of reductions in recent days to 118. Last week’s round of eliminations cut across the entire company, leading to departures in Springfield-based MassMutual’s marketing, finance, human resources and information technology departments, according to spokesman Mark Cybulski.
Of those who lost their jobs in the retirement income sales division, none were agents, he said. Rather, those who were laid off handled sales support and other back-office functions.
Further cuts are likely, Mr. Cybulski said.
“As we continue to evaluate our business and staffing requirements to meet our objectives, we anticipate making additional decisions that could result in a net reduction in our work force by the end of the year,” he wrote in an e-mail. “Overall, while very difficult, these work force reductions will ensure that we remain in the best position to sustain our financial strength for the future.”

Related Topics: Massachusetts Mutual Life Insurance Co.