Business

Transamerica lays off 53 Cedar Rapids employees

Insurer filed WARN notice in November

Transamerica reduced its Cedar Rapids footprint in 2018 when it outsourced some of its business to <a href=India-based Tata. (The Gazette)" />
Transamerica reduced its Cedar Rapids footprint in 2018 when it outsourced some of its business to India-based Tata. (The Gazette)

Transamerica laid off 53 Cedar Rapids employees at the end of November, according to a WARN notice filed with Iowa Workforce Development.

A spokesman from Transamerica would not comment on the layoffs.

Transamerica had about 3,800 full-time positions in Cedar Rapids in mid-November, according to David Connolly, economic development specialist for the City of Cedar Rapids.

The company reduced its Cedar Rapids footprint in 2018 when it outsourced some of its business to Mumbai, India-based Tata Consultancy Services, moving 882 jobs from Transamerica to TCS.

Transamerica, which sells life insurance and investment services products, has operations in Cedar Rapids, Baltimore, Md., and Denver, according to a previous news release.

It has been a subsidiary of AEGON, a life insurance company based in the Netherlands, since 1999.

Comments: (319) 398-8394; john.steppe@thegazette.com

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