State Farm’s answer to $7 billion in auto losses

The largest auto and home insurance provider State Farm has some pretty disturbing news. The company plans to shut 11 facilities, and displace some 4,200 workers by the year 2021. It will exit Parsippany, New Jersey, and Petaluma, California, to name two locations. “The company’s decision to exit these facilities was based on efforts to best serve customers by gaining efficiency through streamlining and improving processes, leveraging technology, and concentrating employees in larger locations,” – State Farm.

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