Geico to lay off 6% of workers nationwide

BUFFALO, N.Y. (WIVB) — Geico is laying off 6% of its workforce, roughly 2,000 employees, nationwide to “better position [Geico] for long-term profitability and growth,” according to a letter from the auto insurance company’s CEO obtained by News 4.

“This very difficult decision was not taken lightly. We recognize we’re saying goodbye to beloved colleagues and friends, and as a leadership team we are committed to supporting those affected in the days ahead,” the letter from CEO Todd Combs said.

Those affected by the sudden decision to let employees go will be contacted Thursday, according to the letter. Western New York is home to a Geico corporate office in Getzville.

Combs pledged in the letter to offer career transition assistance to workers that were let go, including career coaching sessions, resume assistance, on-demand interviewing and networking resources.

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In addition, the letter emphasized a push for Geico workers to return to the office.

Employees not affected by layoffs will soon receive a “required number of in-office days based on customer and business needs,” which is a “shift from what has been the practice across most companies” recently, the letter stated. This new policy will be fully implemented by Jan. 1, 2024.

The exact number of Western New York Geico employees affected by the layoffs is not currently known.

This is a developing story, check back for updates.

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Adam Gorski is a Buffalo native who joined the News 4 team in 2022. You can find more of his work here.

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