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Company News

Insurer Allstate to cut nearly 3,800 jobs

Sept 30 (Reuters) - U.S. insurer Allstate Corp said on Wednesday it would cut nearly 3,800 jobs across its claims, sales, service and support functions as part of a multi-year restructuring plan.

The firm said it expects to incur a pre-tax charge of $290 million as part of the restructuring, with $210 million to $220 million expected to be recognized in the third quarter. (Reporting by Abhishek Manikandan in Bengaluru; Editing by Sriraj Kalluvila)

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