MassMutual employees say they are training overseas workers via Web conferencing sessions.
One of the state’s largest companies, Springfield-based MassMutual Financial Group, is cutting about 5 percent of its 7,200 employees.
The article does not include any details.
The cut comes at a time when Iowa also is being buffeted by big layoffs at Wells Fargo & Co. and the former Aviva USA insurance company, now known as Athene. The Iowa unemployment rate increased to 4.9 percent in August from 4.8 percent in July, but it remains one of the lowest in the U.S.
Memo to Blue Bell and Braum’s:
Bigger is not always better.
The layoffs are part of a plan MetLife acknowledged for the first time publicly in March. At the time, MetLife said it will cut 650 workers in Bloomfield, leaving 1,300 at the site, over a three year period.
Tucker said some of the work currently performed by Transamerica employees will be outsourced to contractors.