Allstate cutting 3,800 jobs as part of restructuring plan

Allstate is cutting 3,800 jobs, or 8% of its workforce, as part of a restructuring plan it undertook late last year.The job cuts will come primarily from claims, sales, service and support functions, the Northbrook-based insurer said Wednesday.The cutbacks are part of a multi-year “transformative growth plan,” designed to cut costs, change the way agents earn commissions and better compete against companies like Progressive and Geico.Allstate said it will take a pre-tax restructuring charge of about $290 million, with most of it recorded in the year’s third and fourth quarters. Severance payme…

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