Layoffs at A.L. Williams
DULUTH, Ga. (AP) _ The A.L. Williams Corp., acquired by Primerica Corp. nine months ago, will eliminate about 250 jobs, a company spokesman said.
The cuts are part of a restructuring that will affect all levels of the insurance and financial services company, Williams spokesman Mark Supic said.
He said the majority of the job losses will come from A.L. Williams Corp. and Massachusetts Indemnity and Life Insurance Co., which together employ about 1,700 people.
The restructuring by Primerica already has affected some top Williams officials, including president William Keane, who left the company earlier this month after his position was eliminated.
″These actions are the result of a months-long post-merger review of all Primerica subsidiaries and are expected to improve operating efficiencies,″ Supic said.
Primerica completed its acquisition of Williams last November, when it paid $470 million for the company’s remaining publicly held stock. Primerica spokeswoman Mary McDermott said the job cuts at Williams are part of an effort to restructure all of the corporation’s holdings. The move began in 1988, when Primerica was acquired by Commercial Credit Corp., she said.
″All of our companies have gone through, and are still going through, some restructuring and downsizing,″ Ms. McDermott said.