NEW YORK — Insurer MetLife Inc. says it has eliminated about a third of its adviser jobs, or approximately 2,500 positions, since early 2012.
Treasurer Eric Steigerwalt said the company had 7,500 advisers in February 2012 and now has around 5,000. Steigerwalt said the cuts make MetLife more productive and are saving a significant amount of money.
"We're not financing advisers who frankly were never going to make it in this business," he said. "And we're putting all of our resources into people who have demonstrated that they can do a great job for their clients and a great job for the company."
Steigerwalt said he thinks the number of advisers has reached a low point and should start to grow.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
