The vast majority of insurance companies in North America have already enacted furloughs, layoffs and a freeze on promotions to reduce workforce-related expenses due to the global COVID-19 (coronavirus) pandemic, according to a survey in mid-2020. Over two thirds of respondents indicated these measured had already been taken, while over half also confirmed they had reduced compensation and limited raises and bonuses.
Share of insurance companies in North America who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action
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Deloitte. (December 3, 2020). Share of insurance companies in North America who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1192517/insurance-companies-coronavirus-response-north-america/
Deloitte. "Share of insurance companies in North America who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action." Chart. December 3, 2020. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1192517/insurance-companies-coronavirus-response-north-america/
Deloitte. (2020). Share of insurance companies in North America who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action. Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1192517/insurance-companies-coronavirus-response-north-america/
Deloitte. "Share of Insurance Companies in North America Who Have Taken Actions to Reduce Workforce-related Expenses Due to Covid-19 in 2020, by Action." Statista, Statista Inc., 3 Dec 2020, https://www.statista.com/statistics/1192517/insurance-companies-coronavirus-response-north-america/
Deloitte, Share of insurance companies in North America who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action Statista, https://www.statista.com/statistics/1192517/insurance-companies-coronavirus-response-north-america/ (last visited November 22, 2024)
Share of insurance companies in North America who have taken actions to reduce workforce-related expenses due to COVID-19 in 2020, by action [Graph], Deloitte, December 3, 2020. [Online]. Available: https://www.statista.com/statistics/1192517/insurance-companies-coronavirus-response-north-america/
