Only days after the closure of its Moncton, N.B. branch, Economical today announced it is eliminating more jobs and closing its Hamilton, Ont. operations.
"These location changes are important to our ability to streamline our operations and processes,” said Jorge Arruda, senior vice president of sales, distribution and underwriting operations with Economical Insurance, “which are essential to improved service for our broker partners and customers.”
Similar to the Moncton announcement – which saw 22 people lose their jobs as Economical transitioned its underwriting operations to the Halifax, N.S. office – Economical stated in a press release that the Hamilton employees will receive fair severance packages and career transition services, and that the underwriting will be transferred to other Ontario locations.
“Underwriting operations managed out of that office will transition to other Economical locations in southwestern Ontario,” stated Arruda, “while several claims, commercial insurance and business development staff were offered the opportunity to work from home or at other Economical locations.”
According to the statement, the Moncton and Hamilton closures are not expected to have a material financial impact for the company.
