Cedar Rapids, Iowa News, Sports, and Weather
CEDAR RAPIDS, Iowa - AEGON on Thursday announced plans to eliminate about 20 positions on its Transamerica Life & Protection's Operational Services team in Cedar Rapids.
The Transamerica Life & Protection division includes business operations of affiliated AEGON companies offering life and health insurance and financial products.
"Over the past two years, in a challenging business environment, AEGON has taken a number of steps to improve business performance, lower expenses, and sharpen our focus on core businesses," said Cindy Nodorft, AEGON manager of corporate communicatons. This includes realigning some of our divisions to operate more effectively.
"Transamerica Life & Protection's Operational Services team will be reducing staff in order to better align its resources with the needs of the business."
Nodorft said the job eliminations are occuring across multiple locations in the United States.
"We are working closely with our employees and those impacted will be able to apply for openings in the company," Nodorft said. "Employees who do not remain with one of our companies will be provided a minimum of 60 days paid notice. Those who stay until their termination date will be provided separation pay and benefits as well as job placement assistance."
AEGON on Dec. 1 announced that it will reduce the number of employees in its United States operations by 400 to 500 positions, or about 5 percent of its U.S. work force, over the next two years. The Dutch-based global insurer also is rebranding a majority of its retail products sold in the U.S. as Transamerica.