Farmers Insurance said it needed to "better position itself for a future of long-term profitability and growth," prompting the layoffs. Other actions the company is taking include making its organizational structure more efficient and bringing a "new approach to how it delivers insurance products" to agents and consumers, the release said.
existing conditionsThe Farmers Insurance logo is displayed outside company headquarters on August 29, 2023 in Woodland Hills, California. The California-based insurer is laying off 2,400 employees, around 11 percent of its workforce, in a restructuring move aimed at inThey come after the insurance provider decided earlier in the summer to no longer do Farmers-branded auto, home and umbrella policies in Florida and curb some of its coverage in California.