Beneficial Financial Group cuts 150 of its 214 Utah jobs
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In addition to Beneficial's 214 Utah employees, the company has 155 Utah field agents among 478 total nationwide, according to Deseret Management spokesman Kent Jarrell.
Willes said Deseret Management is working with "some major (insurance) carriers to help transition our field force to them," so that the agents could sell other firms' insurance. Details of an agreement could be released by the end of the month.
Willes said that while the decision to downsize holdings in the insurance business was motivated in part by the current economic climate, the remaining Deseret Management businesses are not affected, and no cuts are planned in any other affiliated entities.
"This is a decision that is … very much a life-insurance company issue," Willes said. "It has nothing to do with Deseret News or Bonneville or others who are in completely different industries."
E-MAIL: jlee@desnews.com
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I just can't help noticing all the mistatements and exagurations in...
observer | June 19, 2009 at 10:38 a.m.
If you'll reread my post: you buy insurance, it's not an investment....
pastagent | June 19, 2009 at 1:15 a.m.
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The Beneficial Financial Group building on 100 South in downtown Salt Lake City.
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