Thursday, January 29, 2009
Filled Under: Layoffs in USA
Allstate Posts $1.1 Billion Loss, Cuts 1,000 Jobs
Allstate Corp., the largest publicly traded U.S. home and auto insurer, will cut 1,000 jobs after the falling value of investments caused the company’s first annual loss as a public firm. Shares dropped 11 percent in extended trading.
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