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International Business Times UK
International Business Times UK
World
Briane Nebria

Prudential Hits Employees With New Layoffs Amid $1 Billion Global Misconduct and Sales Ban Disaster

Prudential Prudential Financial Andrew Sullivan Japan Newark United States
Prudential Financial (Credit: ajay_suresh/Wikimedia Commons)

Prudential Financial will cut a further 53 jobs in Newark, New Jersey, on 17 July, according to a state filing, as the insurer battles the fallout from a $1 billion hit linked to misconduct at its Japan affiliate and an extended sales ban.

The latest layoffs, disclosed to the New Jersey Department of Labour and Workforce Development, continue a restructuring drive in the second year of chief executive Andrew Sullivan's tenure.

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