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Lafayette Life leaving in June; 159 jobs affected

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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.

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  • Truly sad . . . .
    There were once great companies, both unique in what they do and part of the local community. Slowly but surely, they are gobbled up by conglomerates. A few holdouts are still out there, like Life of Alabama in Gadsden (main product is cancer policies and small whole life policies). Lafayette Life did it's thing in a positive way. Provided good rates on its life insurance products, paid respectable dividends (policyholders got the surplus profits), local jobs, and no doubt provided a customer to many local vendors. All gone in the name of "progress" and one or two fat cats making a personal profit.
  • Bd Of Directors At Fault
    When The Bd hired a money hungry outsider to turn this once great company from a mutual company to a mutual holding company they should be assumed. BG openingly stated he was at lafayette life to partner with a larger organization. Upon his finding a suitable partner to the tune of $8 Million in his pocket and $2 Million per Sr Staff at the time the acquistion transpired. It was not in the best interest of policyholders,employees or the community. It is assume the state let this gem go. More of assume on the Bd to allow this to happen. Shame on all!!
  • Lafayette Life
    When a great niche company like Lafayette Life partners with a crap company like Western & Southern, you get what you asked for, a larger pile of crap in another city.

    Such a shame.......

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