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Chicago版 - News: Allstate cuts 150 IT employees
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http://www.chicagobusiness.com/article/20110729/NEWS01/11072980
(Crain's) — Allstate Corp., which has been struggling to revive its auto
insurance business, has eliminated about 150 technology jobs.
The Northbrook-based insurance giant trimmed the jobs from six states. The
news was first reported Friday on the Chicago Tribune's website.
"Allstate regularly reviews its operations and expenses to better meet the
needs of our customers," Allstate said in a statement. "When we find the
need to improve in these areas, we have to make difficult decisions."
An Allstate spokesman declined to comment on whether more jobs cuts were to
come in other departments.
"The company will continue to monitor operations and expenses and take
actions as needed," Allstate said in the statement.
The company has under pressure recently as its financial performance has
fallen since Thomas Wilson became its chief executive officer three years
ago. Operating returns during his tenure are below the 14% average Allstate
was seeing for the past decade. While Allstate stuck to old traditional ways
, its rivals turned to newer business models to drive revenue
Read more: http://www.chicagobusiness.com/article/20110729/NEWS01/110729800/allstate-cuts-150-it-employees#ixzz1Tk1v47Y1
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