Gallagher announces restructuring of back-office operations
Global insurance brokerage Arthur J. Gallagher is terminating hundreds of employees as a part of a restructuring intended to increase efficiency and productivity in back-office operations, Best’s Insurance News reported. As many as 300 employees will lose their jobs, the company’s chief financial officer, Doug Howell, said during an earnings conference call last week. The company took a $7.2 million charge in the second quarter for workforce and lease termination, which he called the first step to centralize, standardize and automate some processes and shift other functions to service centers in India and Las Vegas. Gallagher has several locations in Iowa, including a West Des Moines office.