Mercury Insurance to slash 65 jobs with closing of Latham office
LATHAM More than 60 insurance company employees were notified this week that they will be laid off because their office is closing, company officials said.
A total of 65 employees of Mercury Insurance Group will lose their jobs as of April. Most of the cuts are coming from Mercury’s office at 13 Cornell Road in Latham. A handful are coming from Long Island, according to John Sutton, Mercury senior vice president.
The company, which employs about 4,000 people nationwide, is cutting about 260 jobs companywide, closing offices in five states. Mercury does business in 13 states and will continue to do so, Sutton said.
“The reason is we’re essentially becoming more efficient,” Sutton said. “We have a variety of small offices and decided economically that it didn’t make sense to try to support all the small offices.”
The last day the Latham office will be open is May 6.
Employees losing their jobs will be paid for 90 days, then receive an additional severance package, Sutton said.
Some of the jobs lost are being moved. About 125 positions will be added to other offices to pick up the slack, Sutton said.
Employees laid off will be considered for the relocated positions, Sutton said. The New York work, which had been centered in Latham, is being moved to Bridgewater, N.J.
Mercury is also closing offices in Arizona, Georgia, Illinois and Oklahoma, Sutton said.