Employment lawyer on insurance industry layoffs in Canada

Canadian insurance companies are the latest industry to announce mass layoffs, eliciting surprise from many across the country. Allstate recently reported terminations but has not disclosed specifics and which departments will ultimately be affected. Can these latest layoffs be expected despite insurance companies being largely unaffected by the pandemic?

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“There may be instances where large-scale layoffs have occurred with greater frequency than we realize, but they’ve done it in a manner where terminations are spread out across a long period of time, and occur across numerous departments, to avoid the impact of (and publicity associated with) one major layoff,” explains Fiona Martyn, an Associate at Samfiru Tumarkin LLP to Insurance Business Magazine.