In its latest wave of cost-cutting measures, Nationwide Mutual Insurance Co. laid off 480 employees and contractors.

The layoffs are centered in the Columbus, Ohio-based insurer's information-technology group. Of the total job losses, 230 are full-time Nationwide employees, including 150 based in central Ohio. The remaining 250 are third-party contractors spread across the country, said Eric Hardgrove, Nationwide's spokesman.

Hardgrove did not indicate if other jobs would be eliminated in the near future. He was quick to note, however, that those currently affected will receive an additional 60 days of pay in their severance packages, as well as assistance in finding new employment.

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