Laid-off tech workers are about to get help from Allstate

In November 2022, the most recent month for which data is available, the tech sector announced 52,771 cuts, for a total of 80,978 over the course of the year, according to consulting firm Challenger, Gray & Christmas Inc. (Credit: IgorGolovniov/Shutterstock.com)

(Bloomberg) — Allstate Corp. plans to tap the pool of recently fired tech workers to help the insurer overhaul its business.

The company — best known for auto and home policies — is investing in technology including artificial intelligence and telematics, which sets premiums based on customers’ driving habits, to help it tap new clients and markets. Massive job cuts at tech companies could make the hiring search easier, according to Chief Financial Officer Jess Merten.