UFG Insurance, headquartered in Cedar Rapids, has cut 40 employees from its workforce, according to a notice posted to the Iowa Worker Adjustment and Retraining Notification (WARN) Act website.
The announcement was posted to the Iowa WARN website Oct. 24 and effective that day, according to the notification.
Casey Prince, associate vice president and marketing and communications manager for UFG Insurance, said the 40 positions were eliminated as part of a reorganization of UFG’s information technology (IT) structure “to better support the company’s business objectives and ongoing digital transformation.”
The decision, he said, impacted 40 UFG employees whose positions were eliminated due to “lack of business need.”
“We regret the hardship this decision has on our former team members and thank those impacted for their valuable contributions during their time with the company,” Mr. Prince said via email. “UFG is fully committed to supporting these employees through this transition, including pay with benefits through the end of the year.”
Of the 40 employees impacted, 28 were located in Iowa, Mr. Prince said.
UFG’s total workforce is currently 1,002 employees, with offices in six states.
UFG is a licensed insurer in 50 states and the District of Columbia, and is represented by approximately 1,000 independent insurance agencies across the country. The company focuses on commercial insurance and serves the retail, manufacturing, construction and small business industries, among others.
