Allstate may have to do some selective new hiring after about 1,000 employees jumped on a recent buyout offer.
Michael Trevino, spokesman for the Northbrook, Ill.-based insurer, said that the company had hoped to reduce home office workforce by up 700 when the buyout offer was first made, which would represent about 10 percent of the 6,800-person force.
Despite the coming exit of 300 more personnel than the company had planned on, Mr. Trevino maintained the buyout would not result in any particular strain on the home office staff as workers have agreed to stay until May 31.
At that time the company will evaluate what positions need to be filled on a department by department basis, he said.
The nation's second largest personal lines carrier moved to trim personnel costs after last year's mountain of hurricane damage claims resulted in a third quarter net loss of $1.55 billion.
Allstate has also cut its risk exposures by halting writing of new business in Florida as well as four New York counties with coastal exposure. It has also purchased billions of dollars of new reinsurance coverage.
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