150 Allstate Tech Employees Out of Jobs

Allstate Corp. confirmed to the INN that it has laid off about 150 technology employees across six states.

"Allstate regularly reviews its operations and expenses to better meet the needs of our customers," a spokesperson said. "When we find the need to improve in these areas, we have to make difficult decisions. As a result of a recent review, our technology group determined that approximately 150 positions across six states needed to be eliminated. All employees affected by this decision have been notified. The company will continue to monitor operations and expenses and take actions as needed."

Today, Allstate reported financial results for the second quarter of 2011. While underlying profitability improved across the company's business lines this quarter, those gains were more than offset by $2.3 billion in record second-quarter catastrophe losses. Allstate Financial second quarter operating income grew 12.8 percent versus the same period a year ago.

For reprint and licensing requests for this article, click here.
Core systems Policy adminstration
MORE FROM DIGITAL INSURANCE