Forty of the 140 employees at Nationwide's Wausau, Wis., office will lose their jobs beginning in May and will shift a local department to Cincinnati and Columbus, Ohio, where technology already is in place to improve efficiency and reduce duplication of services, according to the Wausau Daily Herald.
The employees affected are a part of the retirement-plan services, and handle record keeping and administration of 401(k) retirement plans.
The news outlet reported that Nationwide spokesperson, Nancy Smeltzer said the layoffs will continue until the transition is complete by July 15.
The remaining 100 employees will stay in Wausau, and that more layoffs are not planned, according to the Daily Herald. Nationwide will relocate its Wausau offices from 400 Westwood Drive to the First American Center in downtown Wausau by August.
At press time, INN’s efforts to reach Nationwide were unsuccessful.