All 159 employees of the Lafayette Life Insurance Co. will either relocate to Cincinnati or lose their jobs by July, when the company moves to Ohio.
The company is owned by Cincinnati-based Western & Southern Financial Group, which purchased Lafayette Life in 2005.
A notification received Monday by the Indiana Department of Workforce Development said the layoff is expected to be permanent, and that it will affect all employees of the company.
Layoffs will begin June 1 and will conclude by the end of the month, the notification said. So far, 56 employees have agreed to relocate to Cincinnati, a spokeswoman for Western & Southern said.
Founded in 1905, Lafayette Life provides life insurance and annuity products to individuals and small businesses.