Fremont General Corp. plans to close most of its workers’ compensation insurance servicing offices and eliminate 29 percent of its workforce as part of continuing efforts to cut costs. Fremont will close 16 of its 24 production and claim servicing offices and cut 465 jobs.
The company, which faces expected reductions in workers’ compensation premium writings, has already cut its workforce by 50 percent since June 30. The company estimates that the combined office closures and job cuts will reduce annual costs by as much as $55 million before taxes.
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