NASHVILLE, TN (WSMV) – Asurion, one of Nashville’s largest private employers, has announced a new round of job cuts that represents just under 3% of its global workforce.
The technology company, which provides insurance and repair services for mobile phones and other devices, confirmed the job cuts today but said the number was far lower than previously reported.
Reports emerged earlier this week that Asurion was preparing to cut between 20% and 40% of its workforce, but the company denied the allegations, telling WSMV4 that the figures were “grossly exaggerated.”
Headquartered in Nashville, Asurion employs more than 19,000 people worldwide, including more than 3,600 in Middle Tennessee.
The company said the cuts affect less than 3% of its global workforce, resulting in fewer than 600 jobs lost in total.
The company said it couldn’t release exact numbers, but told WSMV4 that fewer than 200 employees in the Nashville area are affected by the layoffs.
In announcing the job cuts, Asurion did not disclose which departments the employees would be eliminated but said affected employees would be offered severance and additional benefits.
Below is Asurion’s official statement on WSMV4:
Earlier this year, we communicated to our employees that as an industry leader in a competitive market, we have a responsibility to continually evolve our organizational structure in line with our long-term goals and growth strategy. While our goal was to simplify operations and focus on our most important initiatives, it became apparent that certain areas of our business no longer required the same number of people as before. This led to the difficult decision to reduce our team size.
The company notified employees today about the job reductions, which represent less than 3% of its global workforce of 19,500. Affected employees will be offered severance packages, benefits continuation options and outplacement services.
While the overall impact represents a small percentage of our entire team, these decisions are always difficult: we are parting ways with friends and colleagues, many of whom have worked with us for many years and contributed greatly to the growth of our company.
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