Farmers Insurance Group to Layoff 2,400

Farmers Insurance Group is a financial services company that primarily offers insurance packages for vehicles, homes and small businesses. The company was founded in 1928 with its headquarters in California, USA. Farmers Insurance Group is a division of Zurich Insurance Group, a 151-year-old Switzerland based insurance company, and reportedly the largest in the Country.

According to a recent report by the groups CEO, Raul Vargas, they will be laying off about 2,400 employees across all lines of the business to realign their initiatives. The report cites macroeconomic challenges as one of the reasons for the strategic restructuring.

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