Farmers Insurance recently announced layoffs that will impact thousands of employees. The job cuts will affect 2,400 workers across all departments, which is around 11% of the Farmers Insurance workforce. Farmers Insurance stated that it is working on reorganizing the company structure to increase efficiency. The company is hoping that the upcoming changes will provide more comprehensive insurance protection to adapt to the economy’s future needs. Farmers Insurance recently removed all coverage in Florida, following a trend set by other insurance companies earlier this year. Coverages in California also were changed, and the company has set a lower cap on residential policies, in large part due to increasing costs and risk in the state.
See "Farmers Insurance announces job cuts that will cut thousands of positions", Amritpal Kaur Sandhu-Longoria, USA Today, August 31, 2023