Talcott Resolution Life Inc. Cuts Workforce Amid Operational Changes

Talcott Resolution Life Inc., part of the global insurance giant Talcott Financial Group, is reducing its workforce by more than 100 employees. This strategic decision comes as the company closes select operations at its Hartford location, particularly affecting roles in operations and information technology. The move underscores the challenges faced by insurance providers in navigating regulatory compliance requirements and optimizing operational efficiency.

The company has initiated steps under the Federal Worker Adjustment and Retraining Notification (WARN) Act, planning to lay off 101 employees by April 24. These impacted positions are at Talcott's One American Row site, also known as the Boat Building. Employees received notifications of their separation dates, and the absence of union-negotiated bumping rights highlights the clarity of this transition process in the insurance industry. Talcott has not publicly disclosed whether severance packages will be offered to affected employees.

In a previous move, Talcott Financial Group had opened its Hartford headquarters in September 2023, aiming to benefit from $1.1 million in tax rebates through Connecticut's JobsCT program. This initiative required retention and expansion of their workforce, which Talcott has yet to fully achieve. Their extensive presence in the Boat Building, spanning 52,000 square feet, includes modern workspaces prioritizing collaborative efforts—a key trend in insurance risk management and underwriting. Despite efforts, comments from Talcott on the current developments have not been forthcoming.