December 5, 2016
Transamerica plans to close its Los Angeles office and cut roughly 315 jobs, as well as shuttering a smaller office in Folsom, CA, involving 30 employees. The Baltimore-based financial services and insurance company will no longer have operations in the state, though will still continue to service customers in California.
The changes, slated to take place next year, are part of a larger plan to eliminate roughly 800 positions nationally. The job cuts and office closures are aimed at reducing expenses and improving what the company termed “operational efficiencies.”
The company still owns the iconic Transamerica Pyramid office building in San Francisco.
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