Newfront Insurance

Newfront Insurance layoff list released

🌎 San Francisco Bay Area βˆ™ πŸ‘© 94 employees βˆ™ πŸ–₯ All departments

Newfront Insurance, a commercial insurance brokerage, laid off 94 employees in April. The company said at the time that the layoff was concentrated in its engineering, recruiting, strategic growth, and operations teams. It added that the cuts were “business-related and not in any way reflective of these individuals’ performance.”

On Friday, the company released a Newfront Alumni List (see link πŸ‘‡), designed to “keep track of the talented people now looking for their next adventure.” The official Newfront layoff list contains 23 ex-employees actively looking for a job, mostly from their Operations and People & Talent functions.

Newfront offered laid-off employees severance packages and extensions of the exercise window on stock options. The company also said it slashed most of its executive pay by 20% and cut its co-founders’ salaries to zero.

Source: Coda.io

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