Farmers Insurance says it is cutting 2,400 jobs in bid to ensure long-term profitability

Farmers Insurance says it will lay off 11% of its workforce — about 2,400 employees — as part of a corporate restructuring aimed at increasing its efficiency and long-term profitability. The California-based insurer owned by Swiss giant Zurich Insurance Group said Monday the job cuts will impact all lines of its business. In recent months, Farmers and other insurers, including Allstate and State Farm, have pulled back on property insurance in states like Florida and California. Farmer's layoff announcement follows mass job cuts seen at a handful of companies in the past year — including T-Mobile, Google, Meta, Amazon and Disney.