Farmers Insurance next big company doing job cuts

USA (KION-TV)- Farmers Insurance announced they'll be laying off 11% of their workforce.

In total, this rounds out to about 2400 employees. The company says the reason for this is to increase proficiency and long term profitability.

This comes after recently, they, along with other companies like Allstate and State Farm, have pulled back from giving home insurance to states like Florida and California.

They believe both states are becoming more susceptible to natural disasters like wildfires and hurricanes.

The companies say in order to reduce risk exposure and operating costs they can't afford to help the states anymore.

The company is also part of a list of other big company job cuts that have happened in the past year.

Other companies that also made job cuts include T-Mobile, Google, Meta, and Disney parks.