Year End Layoffs Hit Transamerica in Cedar Rapids

There is never a good time to lose your job, but for the past few years it seems that companies have been stripping their budgets with end-of-year job cuts at one of the worst possible times for employees, the holidays.

The most recent example in Cedar Rapids was the dismissal of 53 workers at Transamerica where layoffs occurred at the end of November, according to the Gazette.

The Cedar Rapids Metro Economic Alliance reported that Transamerica employs about 2500 workers in Eastern Iowa. The company has major operations in Cedar Rapids, Baltimore and Denver, and provides life insurance, retirement and investment services.

Transamerica is owned by Aegon, a life insurance company based in the Netherlands. In 2018 the company shuffled some of its workforce here in Cedar Rapids when it reassigned 882 workers to it's Tata Consulting Services (TCS) branch.

The Gazette reported those changes took effect in January, 2018 at their northeast Cedar Rapids location at Edgewood Rd and 42nd St.

Tata Consultancy Services is an information technology consulting company based in Mumbai, India.

The Gazette reported the recent layoffs by the company were documented in a WARN notice to Iowa Workforce Development. There was no official comment from Transamerica on the latest firings, according to the Gazette.

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