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Transamerica Corporation tells employees it's reorganizing

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Transamerica logo(KCRG)
Published: Dec. 1, 2015 at 7:12 PM CST
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Insurance and investment company Transamerica told employees Tuesday it is reorganizing their company, but there isn’t any information about how that could impact jobs.

Transamerica Senior Vice President Gregory Tucker released a statement Tuesday, stating the company continues to evolve to better meet the diverse and changing needs and expectations of customers to give them a more positive experience.

The company bused many employees to downtown Cedar Rapids Tuesday for a strategic planning event it holds every five years. That’s where Transamerica officials told employees the changes are part of its “2020 strategy” and that it’s combining 14 different divisions into one company — organizing by function rather than products.

The transition starts in the first quarter of 2016.

“At this stage, it is premature to quantify the impact on jobs,” Tucker commented in the statement. “We are determining the roles and functions necessary and will be communicating further as the strategic process continues.”