Liberty Mutual is cutting more than 200 positions at its combined
Ironshore and LIU US operations, it has been reported.
Two hundred and ten positions are being eliminating as part of an effort by the company to cut costs.
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“Difficult decisions regarding staff have been made that will result in workforce reductions for both Ironshore and Liberty’s LIU US,” a Liberty Mutual spokesperson told The Insurance Insider. “Periods of transformation are challenging, yet this kind of renewal is essential in order to create new opportunities as part of a dynamic and growing company.”
Liberty Mutual said in a statement that it was committed to “providing as much assistance to employees as possible,” including retraining opportunities for the 1,800 or so open positions in the broader company.
“As a result, we are confident that the final number of employees affected by these changes will be less than the number of positions we have eliminated,” the spokesperson told The Insurance Insider.
Liberty Mutual said it would roll its US specialty operation into Ironshore when it purchased the carrier from Fosun earlier this year. The job cuts are largely to reduce role redundancy and combine similar business processes in the combined operation, Liberty Mutual said.
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