NOVEMBER 10, 2022 — 20% REDUCTION IN WORKFORCE
In a second major layoff this year, the company appears to be transitioning from direct insurance sales to car buyers to policies presented by car dealers at the time of purchase.
The transition will impact 160 employees.
According to co-founder and CEO Alex Timm, "We are at the very beginning of a massive shift of auto insurance distribution, and we are at the tip of that spear. One thing has been made crystal clear: Root must control its own destiny."
JANUARY 28, 2022 — Original post…
Columbus, Ohio-based Root Inc., the nation’s first licensed technology-based insurance carrier powered entirely by mobile offerings of car and renter's insurance, has announced that it is undergoing a realignment that will impact approximately 20% of its workforce. 330 employees, mostly in the sales and claims departments, are targeted for layoffs.
According to Root CEO Alex Timm, "We are confident we are building an enduring organization poised for future growth. Our commitment to using differentiated technology to disrupt the car insurance industry remains core to everything we do. This refinement is critical to maintaining that commitment. I am deeply grateful to all Root team members, past and present, for their continued commitment to bringing our vision to life."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?