While some of the largest US banks have promised not to lay off employees this year, cracks are beginning to show in the financial services industry at firms including insurers and asset managers.This story is available exclusively on Business Insider Prime.Life insurer and investment firm Transamerica has told salaried staff that they must take one week of unpaid leave in the next six months, according to an email to staff that was confirmed by a spokesman.
Transamerica's policy compares to buyouts at peer investment firm TIAA and pledges of no layoffs across several of Wall Street's largest banks. While some of the largest US banks have promised not to lay off employees this year, cracks are beginning to show in the financial services industry at firms including insurers and asset managers.
A spokesperson for the Cedar Rapids, Iowa-based company confirmed the furloughs in an emailed statement, saying they will take place over the next six months and won't impact benefits. Hourly employees will be asked to take three days of no pay.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
No
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Net City, Tencent's 320-acre futuristic neighborhood in China - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Please don’t do this US should game up their infra they gotta stop aiding other countries and start aiding themselves. IMO
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside story of Brex layoffs after $150 million raise - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Business Insider's best investing stories of the week ended June 9 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Where is KimJongUn NorthKorea supreme leader Kim Jong un IS THE DICTATOR DEAD
Source: BusinessInsider - 🏆 729. / 51 Read more »
Read IBM's pledge to promote work-life balance for remote employees - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Tesla employees got coronavirus after Elon Musk defied shutdown orders: report - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Sounds like it's time for some lawsuits. At this point everyone has had coronavirus Did they get hospitalized or test positive? Narrative.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Elon Musk tells employees the Starship rocket is 'top SpaceX priority' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Has anyone out there ever read Robert Heinlein's 'The Man Who Sold the Moon'? I'm betting Musk has I think the point people are missing here is that starship can replace all the other spacex vehicles, with a rocket that has greater payload capabilities & lower cost to launch. The only cost should be the fuel. This is a no brainer and elonmusk is right to prioritize this. and thus it begins
Source: BusinessInsider - 🏆 729. / 51 Read more »