"Delaware Life to lay off half of its Wellesley-based staff
Delaware Life Insurance Co. will lay off half its roughly 300 employees in Wellesley starting in January as it outsources some of its accounting and actuarial work.
Delaware Life is part of Indianapolis-based Guggenheim Life and Annuity. It bought the Canadian insurance and investment giant Sun Life Financial Co.’s annuities business last year and at that time announced that it expected to outsource some jobs, said Thomas Mulligan, a spokesman for Delaware.
The company told state officials last week that 147 workers will be laid off. Some of the duties will be shifted to companies in Seattle and Kansas City, while Boston-based State Street Corp. will handle a portion of the firm’s accounting work, Mulligan said. The company and the remaining workers will move to a smaller office in Waltham in January, he said.
Related: "Shares jumped at State Street Corp., the third-largest custody bank, on third-quarter earnings that beat estimates as fees for managing client assets increased. Net income rose to $542 million. The bank has relied on cost cutting and stock gains to overcome the negative impact of low interest rates, higher regulatory expenses, and investor claims including one alleging it overcharged clients in its foreign-exchange unit."
Anyone go to jail for the $cheming $windle?
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