Armonk, N.Y.-based bond insurer MBIA said it will eliminate 48 positions in its insurance operations while hiring up to 20 others for other strategic roles.
MBIA said many of the employees will be redeployed to different jobs including its asset management business.
The company said it is making the move as it realigns and refines “its business and risk strategies, which will include a more focused and rigorous credit discipline in its structured finance business going forward.”
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