Lansing, Michigan-based Jackson National Life Insurance Company, a provider of annuities for retail investors and fixed income products for institutional investors, announced a reduction in force of 150 employees, three-months after the company's parent corporation, London, England-based Prudential Plc, announced a divestiture.
Prudential Plc will "pursue a full separation of Jackson by way of a minority Initial Public Offering followed by full divestment over time."
According to a company spokesperson, "Due to economic conditions and a decline in industry sales, we have implemented staffing-level changes, including realignments and eliminations, across Jackson. These changes have resulted in a headcount reduction of approximately 150 associates. We value and appreciate the contributions of all our associates and are committed to a thoughtful transition for those personally affected by this decision."
“Jackson remains focused on serving the U.S. retirement market and committed to the continuous assessment of the resources and capabilities of our organization. It is this discipline that enables us to be positioned to serve our customers and distribution partners, and successfully transition into the future, during uncertain times.
"While these changes are never easy, they are critical for us to achieve the right scale and flexibility to meet market demands. What is not changing is our commitment to continuing to provide a superior level of support for financial professionals and the clients they serve through the largest distribution force in the industry and our award-winning customer service. We remain focused on delivering on our long-term strategic objectives as we continue helping Americans secure protection amid uncertainty as they transition to and through retirement.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?