State Farm Insurance Co., headquartered in Bloomington, Ill., says it will cut its work force by 1,250 in a restructuring designed to save $100 million a year.
Reductions to its more than 70,000-person work force will take place mainly through attrition as the reorganization is phased in over the next three years.
State Farm, based in Bloomington, said Friday it will centralize policy processing, shifting those operations from its 27 regional offices to three new centers in Atlanta, Dallas and Phoenix. It also will consolidate life and health insurance operations.
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