MassMutual cuts additional 160 workers
Massachusetts Mutual Life Insurance Co. announced another series of terminations this week, cutting back 160 posts in its Enfield, Conn., and Springfield, Mass., offices.
Massachusetts Mutual Life Insurance Co. announced another series of terminations this week, cutting back 160 posts in its Enfield, Conn., and Springfield, Mass., offices.
Following a round of cuts that took place in August, this latest series of companywide layoffs brings the total number to about 500.
Spokesman Mark Cybulski said that these most recent layoffs mark the end of the carrier’s initiative to cut costs and streamline its operations by lopping 4% to 8% of its total work force by the end of 2009.
“While decisions like this are never easy, we made them to compete as effectively as possible today and in the future,” he said of the layoffs.
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