PEKIN, Ill. – Job losses are apparently the next part of what was called earlier this month a “strategic initiative” at a large Tazewell County employer.
Sources are telling WMBD Radio News Pekin Insurance is in the midst of layoffs.
One source says as many as 85 employees, or about ten percent of the workforce, are being let go at their headquarters, while another says employees aren’t being told much until after the company officially releases a statement, but that rumors continue to abound.
A Pekin Insurance spokesperson tells us they intend on issuing that statement Wednesday.
The company said several weeks ago it is working on focusing on commercial and life insurance, and it’s temporarily suspended the acceptance of new homeowners and personal auto insurance policies in Illinois and four other states, they won’t renew policies in Iowa, and will no longer insure apartments and condos in the Midwest.
