The Hartford cuts 190 Woodbury jobs
The signs out front say “The Hartford,” but soon The Hartford will occupy much less of 500 Bielenberg Drive. Last week, the insurance company announced it was cutting employees from its Woodbury location.
According to The Hartford spokesperson Thomas Hambrick, The Hartford will cease operation of its mutual fund services in Woodbury, effective May 31. The department has been transferred to The Hartford’s headquarters in Radnor, Penn., leaving about 190 Woodbury employees without jobs.
The Hartford started its mutual funds transition in late 2014, Hambrick said. As part of the transition, the company offered job transition services to the employees whose positions would be cut. The Hartford also provided information on vacant job opportunities with other companies and peer companies, he added.
This is the second large-scale movement The Hartford has made in its Woodbury location. In 2012, the company sold off its life insurance business, Hambrick said.
“We had a much larger presence in Woodbury when we had individual life there,” he said.
The Hartford still has some operations out of Woodbury, according to Hambrick. However, he was not able to comment on how many employees the company still has at the local site.
While The Hartford latest layoffs mean downsizing at the company’s Woodbury location on Bielenberg Drive, it does not mean that the building will sit vacant.
Woodbury Assistant Community Development Director Janell Schmitz pointed out that The Hartford is only one of several businesses – 3M and Assurant among them – that still offices in the building.
“It’s not like the building is vacant,” Schmitz said. “I think that was sort of a misconception.”
Much of the office space is leased on a floor-by-floor basis. Near the junction of interstates 94, 694 and 494, the location is visible and attractive as a leasing option, Schmitz said.