PEKIN, Ill. – They call it a “small percentage” of employees being laid off.
Pekin Insurance is now confirming that they have made some layoffs as it focuses on what it calls in a news release “more profitable commercial lines businesses.”
The company did not say how many full-time employees they laid off. Sources told WMBD Radio News Tuesday that number was around 85.
They say they will now be “retraining and refocusing the efforts of many of our remaining employees.”
Pekin Insurance says they’re accelerating a strategic plan they announced a while back that resulted in the halt in issuing home and automobile insurance.
They blame Mother Nature – more specifically, severe weather that has been on the upswing in the Midwest.
“It is always extremely difficult to make these types of decisions. Unfortunately, today’s business climate is forcing us to take immediate action to ensure our future financial success and steadfast commitment to our policyholders,” said Dan Connell, CEO, Pekin Insurance, in a news release. “Our remaining team will be focused on serving all our customers with excellence and precision.”
