Phoenix Will Cut 250 Jobs | TravelingCrossing

Financial planner and life insurer Phoenix reported a Q4 loss of $424.3 million today, and will cut about 250 jobs, or 25% of its work force, in the next two to six months.

Revenue declined to $399.7 million, down 32%. For the year, Phoenix reported a loss of $772 million. Annual revenue fell 15% to $2.01 billion.

Phoenix completed the spinoff of asset management unit Virtus Investment Partners in December.

Founded in 1851, The Phoenix Companies helps its customers find straightforward solutions to highly complex personal financial and business planning needs through life insurance and annuities.

Career Connect (From our other career blogs):

Employment News (Sponsored by EmploymentSpectator)
Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
Layoff News (Sponsored by LayOffWatch)

Testimonial of the Week

EmploymentCrossing provides an excellent service. I have recommended the website to many people..

Laurie H Dallas, TX

+ Read More Testimonial

Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.

We have more jobs than any other job board.
We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
We collect jobs from more than 4,429,376 websites and post them on our site.
We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.