by Gwen Moritz
Posted 9/12/2012 04:19 pm
Updated 1 year ago
Life & Specialty Ventures confirmed Wednesday that it had eliminated 21 positions, including 11 in its USAble Life business unit in Little Rock.
Ten positions were eliminated in other operating units, mostly in Jacksonville, Fla., according to company spokesman Andy Moreau. Before the layoffs, which were announced Wednesday and were immediately effective, the company had 325 employees in Little Rock and 580 companywide.
After a "careful evaluation to look at all our business needs going forward," Moreau said the cuts were made "across the board in different business units."
The displaced workers will be given what he described as "enhanced severance" pay and provided with outplacement services to help them find new jobs.
"We're going to make sure we do the right thing to help those employees," he said.
USAble Life, led by Jason Mann, is one of Arkansas' largest private companies with $500.2 million in revenue in 2011.