Beneficial Financial to Cut 150 Jobs

Beneficial Financial Group, one of Utah’s oldest insurance and annuity companies, will cut 150 jobs from its Utah work force of 214, and discontinue writing new policies.

Beneficial Financial Group is an insurance and financial services company based in Salt Lake City, Utah. It is a subsidiary of Deseret Management Corporation, which is in turn owned by The Church of Jesus Christ of Latter-day Saints.

Founded in 1905 to help protect widows and orphans, Beneficial is the oldest life-insurance company headquartered in the Intermountain West.

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