Columbus, Ohio-based Nationwide, the iconic insurance and financial services company, is implementing a large-scale restructuring effort that will result in the loss of approximately 1,100 jobs in Columbus, Ohio and elsewhere across the country. Affected are employees in IT, marketing, property and casualty operations, and bank organizations.
According to a Nationwide spokesperson, “We are making these changes from a position of strength and stability to position the organization for long-term success and growth. As the company implements new technologies and modernizes for the future, its workforce requirements are changing. "When we started our transformational journey, some seven years ago, we anticipated we would begin to realize the benefits in 2019. Our digital modernization, our distribution evolution and the formation of emerging partnerships all position us to meet customers where they are. As we implement new technologies and become more efficient across our businesses, our work force requirements are changing."
In addition to affected employees, Nationwide is also transitioning its 2,000 captive insurance agents to an independent agent model that will significantly change how the company sells insurance. Additional cost-cutting measures include the relocation of employees from leased space to its centralized location in Grandview Yard located in Grandview Heights, Ohio.
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