Allstate Announces Charges, Settlement
NU Online News Service, 12:33 p.m. EST?The Allstate Corporation in Northbrook, Ill. announced today that it recorded $70 million in after?tax restructuring expenses, or 10 cents per share, and a $38 million after-tax charge of 5 cents per share related to the settlement of a lawsuit in Georgia.
The restructuring expenses, roughly $107 million before taxes, relate primarily to a 2001 initiative to realign the company's claim offices to fewer, larger office locations and to redesign its Customer Information Centers and other back-office operations.
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