Allstate Layoffs Job Cut: fires 1000 employees: Finance Trading Times

Allstate Layoffs Job Cut: fires 1000 employees

Now, another insurance firm Allstate, has decided to go for big round of Allstate Lay offs or Allstate Job Cuts. Unfortunately the situation is worsening further for the finance sector and Allstate is feeling the heat. The economic crisis is hitting all sectors and all the sectors are getting affected.Allstate Layoffs

How many employees may be fired by Allstate layoffs?
The news is that around 1000 employees may be asked to leave their jobs at Allstate.

How many employees does Allstate have?
No information is available about the total no. of Allstate employees.

Which locations will be affected by the Allstate Layoffs?
No specific info is provided by the company as of now.

Which departments will be affected by the Allstate Layoffs?
The financial division have been the worst hit and hence the layoffs are expected in these departments.

How much savings can be made by Allstate Layoffs?
No information is there about this latest job cut saving, but they are justifying the layoffs quoting the losses they made in the business.

When will the Allstate layoffs happen
No information is available about the dates of Allstate layoffs.

What are the primary reasons of Allstate Layoffs
The worsening global economy means that there is a decline in sales and businesses and hence loss of revenue for Allstate. These layoffs are being justified as preparation for a possible decline in revenue. There was a loss of more than $1.1 billion dollars in the fourth quarter of 2008.

Any other news about Allstate?
As per TheStreet,Allstate's $2.11-a-share loss was driven by weakness in its property-liability sector, decrease in investment income and realized investment losses. It compares to a $760 million profit, or $1.36 a share, in the fourth quarter 2007. The insurer is another in the steady stream of companies in the sector reporting investment losses with realized losses of $1.9 billion for the quarter and $5.1 billion for the full year.
Let's hope that alternative jobs are available to the affected employees of Allstate Layoffs Job Cut
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