Nationwide planning 5% cut to workforce over the next year

DES MOINES, Iowa — Nationwide announced on Thursday that the company will be reducing its workforce by 5% within the next year.

WHO 13 obtained an email that was sent to employees on Thursday that addressed the workforce reduction. According to the email, Nationwide will be expanding their use of global sourcing partnerships within their Property & Casualty and Technology departments. This expansion will result in workforce changes where some positions will be moved to the new partners, some will stay at Nationwide, and some will be eliminated, the email states.

WHO 13 reached out to Nationwide for comment on the staff reductions and received the following statement:

Nationwide is strong and stable.

As markets change and the company continues our modernization journey, we are positioning our Property & Casualty and supporting technology teams to serve our members and agents for years to come. These periodic business strategy updates typically include shifts in staffing — with some areas increasing and others decreasing — based on evolving business needs.

Over the next year we anticipate P&C and some of its supporting functions including Technology, will collectively operate with fewer positions. This is due to a variety of factors including associates voluntarily moving to other roles within and outside Nationwide, not filling open roles when possible, slowing business in underperforming lines, and operating model changes.

Whenever possible, we are providing advance notice of these changes which will reduce Nationwide’s total headcount by approximately 5 percent over the next year. We can’t speculate on the total number of job impacts. Eligible associates are able to apply for any of the hundreds of open roles we have across the country.

It is important to note that these actions do not impact Nationwide’s financial services business lines.

Staff reductions are always a last resort , and we will support associates throughout their career transition. All impacted, eligible associates will be provided 60-day formal notice, a severance package and outplacement services. We are committed to moving through this period with great respect and full support for those impacted.

Rest assured , Nationwide remains fully committed to Des Moines and the state of Iowa . While our company is evolving from a real estate and staffing standpoint, our community commitments remain firmly in place through the Nationwide Foundation. And our people will remain engaged providing passion, expertise and a collaborative spirit to make the greater Des Moines area a great place to live and work.

Nationwide

It is unknown at this time when the workforce reduction will take place and where the majority of the cuts will be located.

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