California, September 10, 2025
News Summary
Farmers Group has revealed plans to lay off 63 employees in California’s finance and insurance sectors starting late October 2023. Despite these layoffs, the company is simultaneously expanding its workforce by recruiting for over 100 hybrid direct sales roles across four cities. This dual action highlights a significant shift in the insurance industry, where firms face job cuts while needing to fill technology and customer-facing positions. The layoffs are part of a restructuring process as Farmers looks to create diversified agencies amidst a challenging economic landscape.
California – Farmers Group has announced plans to lay off 63 employees in California, effective late October 2023. The layoffs will primarily affect positions in finance and insurance, amidst an ongoing restructuring effort.
Despite the layoffs, Farmers Group is looking to expand its workforce by recruiting for over 100 new hybrid direct sales roles across four different cities. This simultaneous hiring effort indicates a significant shift within the insurance industry, focusing more on customer-facing and data-driven roles while back-office positions are being cut.
Currently, Farmers has listed over 89 corporate job openings on its website, including roles such as field property claims adjusters and human resources business partners. In a notable incentive, the company is offering a $5,000 bonus for licensed inbound sales consultants in Kansas City, Kansas, to attract new talent.
The focus of the new positions primarily revolves around technology, predictive analytics, sales and distribution, and product management. This hiring push comes amid a larger trend in the insurance sector, which saw a significant reduction of 5,500 jobs in August 2023, reversing earlier gains of 7,500 jobs recorded in July. The job cuts appear driven by a combination of higher operating costs, changing customer expectations, and increasing automation in claims and underwriting processes.
Farmers Group holds a significant place in the U.S. insurance market as one of the top five homeowners multiperil insurers, boasting a 5.5% market share. Its parent company, Zurich Insurance Group, maintains robust financial health, reflected in its strong ratings from AM Best, which include an A+ (Superior) and A (Excellent).
A recent labor market study indicates that 14% of insurance companies plan to reduce staff over the next year. Although many firms within the industry expect revenue growth, only 52% of them plan to add staff, while 34% intend to maintain their existing workforce levels.
This announcement marks another chapter in Farmers Group’s ongoing restructuring process. Last year, the company laid off approximately 2,400 employees, or 11% of its workforce, as part of a shift intended to transition the exclusive agency (EA) system in the East region to a district manager model, similar to practices seen in other regions. Affected employees in the upcoming layoffs will be eligible to apply for new positions within the company, which currently lists over 370 job openings available.
Farmers is actively working to create larger, more diversified agencies while seeking to reduce its overall exposure to natural catastrophes. This trend mirrors actions taken by other major insurers, including Nationwide and Liberty Mutual, which have also announced layoffs amid a broader industry shift, even as revenue growth remains anticipated.
FAQ
What is Farmers Group planning regarding its workforce in California?
Farmers Group plans to lay off 63 employees in finance and insurance roles, effective late October 2023.
Are they hiring at the same time?
Yes, Farmers is seeking to fill over 100 new hybrid direct sales positions across four cities while offering over 89 corporate job openings.
What trends are observed in the insurance industry regarding employment?
The insurance sector has seen a decline in jobs, with 5,500 positions cut in August 2023, while other companies also announce layoffs despite projected revenue growth.
What skills are they looking for in new hires?
The open positions primarily focus on technology, predictive analytics, sales and distribution, and product management.
How has Farmers Group performed financially?
Farmers Group ranks among the top five homeowners multiperil insurers in the US, with a 5.5% market share and holds strong ratings from AM Best.
| Key Features | Details |
|---|---|
| Number of Layoffs | 63 Employees |
| Layoff Schedule | Late October 2023 |
| New Hiring Positions | 100 Hybrid Direct Sales Roles |
| Corporate Job Openings | 89+ Positions |
| Market Share | 5.5% (Top 5 Homeowners Insurer) |
| Recent Job Cuts in Industry | 5,500 in August 2023 |
| Overall Job Opportunities | 370+ Open Positions at Farmers |
Deeper Dive: News & Info About This Topic
- Program Business: Farmers Group Job Cuts
- Wikipedia: Insurance Industry
- USA Today: Farmers Insurance Layoffs
- Google Search: Farmers Insurance layoffs
- Los Angeles Times: Farmers Insurance Layoffs
- Encyclopedia Britannica: Insurance
- Insurance Journal: Job Cuts in Insurance
- Google News: Insurance Job Cuts
Author: STAFF HERE SAN DIEGO WRITER
SAN DIEGO STAFF WRITER The SAN DIEGO STAFF WRITER represents the experienced team at HERESanDiego.com, your go-to source for actionable local news and information in San Diego, San Diego County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Comic-Con International, San Diego County Fair, and San Diego Pride Festival. Our coverage extends to key organizations like the San Diego Regional Chamber of Commerce and United Way of San Diego County, plus leading businesses in biotechnology, healthcare, and technology that power the local economy such as Qualcomm, Illumina, and Scripps Health. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECostaMesa.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
