Reno-based insurer cuts 161 positions
RENO (AP) – A Reno-based insurance company has announced the elimination of 161 positions, including 44 at its headquarters.
Employers Holdings Inc. offers workers’ compensation insurance to about 44,000 small businesses in 30 states.
After the cuts, the company has about 760 employees nationwide and 175 in Reno.
CEO Douglas Dirks attributes the layoffs to the recession and a consolidation following an acquisition the company made in 2008.
He says the company’s gross revenue for the first quarter was down 35 percent from a year ago, which also was a contributing factor.
Employers Holdings has been a publicly traded company since 2007.