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Lafayette Life leaving in June; 159 jobs affected

IBJ Staff
March 30, 2011
Keywords
Banking & Finance, Insurance, Insurers, Lafayette, Layoffs, Regional News, Tippecanoe Co.
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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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  • Bd Of Directors At Fault
    gibbyMarch 30, 2011 9:07 PM
    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!!
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  • Lafayette Life
    BerwickGuyMarch 30, 2011 4:55 PM
    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.......
    Reply to CommentFlag Comment

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    1. Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.

    2. Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.

    3. I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.

    4. The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.

    5. I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!

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