Nationwide Insurance Decides to Cut Costs By Cutting Jobs

The insurance business has a reputation for being fairly recession proof. But, as we have all seen with this current recession, even recession proof companies are not as protected as they once thought. According to www.dispatch.com, "Nationwide has eliminated 480 jobs, including at least 150 in central Ohio as part of continued cost-cutting measures that could lead to future layoffs. The layoffs announced yesterday are centered in the Columbus-based company's information-technology group.

Of the total job losses, 230 are full-time Nationwide employees, including 150 based in central Ohio. The remaining 250 are third-party contractors spread across the country."

Recession proof industries are seeing more cuts during this recession not just because they need to truly cut jobs because of less work but also because they are preparing for the future and trying to work more efficient. I am sure we will see more cuts due to companies trying to become lean throughout 2009.