Business Services Industry
New Wave of Financial-Services Layoffs at Hartford, Conn.-Based Phoenix Cos.
Knight Ridder/Tribune Business News, October, 2003
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Oct. 3--The Phoenix Cos. Inc. confirmed Thursday it has laid off another 123 employees, including 66 in Hartford and 11 in Enfield, in its drive toward financial recovery and a more competitive position.
Hartford-based Phoenix is also considering outsourcing several areas of the company, including a part of information technology operations known as "IT infrastructure," company spokeswoman Alice Ericson said.
She declined to say how many employees are in IT infrastructure and noted that it isn't clear how many in that operation would be affected, anyway. Phoenix probably won't make final decisions on outsourcing until next year, Ericson said.
The...
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