Thousands of employees at Geico, a leading insurance company in the United States, will be affected by the company’s upcoming layoffs. Over 2,000 positions at Geico will be cut, and this will reduce the company’s headcount by 6%. Geico stated that the layoffs will allow the company to experience long-term growth and profitability in the future. The company also cited unprecedented increases in inflation and rising costs related to auto repairs and medical costs. Geico employees along the West Coast have been majorly impacted by the company’s recent changes, with all the California offices being shut down last year, and hundreds of workers in Washington were informed on Thursday that they were being let go. The company will provide affected employees with career transition assistance and resources to help them find new careers.
See "Geico layoffs that will affect thousands of workers, especially on the West Coast", Paul Roberts, The Seattle Times, October 20, 2023