Transamerica lays off 120 employees in Cedar Rapids - KWWL - Eastern Iowa Breaking News, Weather, Closings

Transamerica lays off 120 employees in Cedar Rapids

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CEDAR RAPIDS (KWWL) -

Transamerica in Cedar Rapids will be laying off approximately 120 employees. Greg Tucker with Transamerica tells KWWL "Transamerica recently undertook a strategic plan designed to enhance returns in an increasingly competitive environment."

The company has also decided to close offices in Los Angeles and Folsom, California, and in West Chester, Ohio. Those offices will close over the course of 2017. A total of 800 positions will be eliminated. 

"These are not easy decisions, and we are keenly aware of the impact these actions will have on our employees and their families. For this reason, we will be offering separation benefits for eligible employees, including outplacement services," says Greg Tucker, Transamerica Head of Public Relations. 

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