Pacific Life Insurance Co. lays off almost 300 employees in light of COVID-19
October 21, 2020 by Lilly Nguyen
Just under 300 employees from Newport Beach-based Pacific Life Insurance Co. were laid off last week in light of the ongoing coronavirus pandemic and low interest rates.
“We are constantly evaluating our business to ensure Pacific Life has the right structure to accomplish its goals and best serve the long-term interests of our clients,” a statement from the company stated.
“As we work toward transformational goals designed to deliver sustained value to our organization and those we serve, the coronavirus pandemic, the current sustained low interest rate environment and our strategy to improve operational efficiency have created a need to readjust internal resources,” it said.
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