(Bloomberg) — Hartford Financial Services Group Inc. cut its staff by 16% last year as Chief Executive Officer Liam McGee narrowed the insurer's focus.
The insurer had about 18,800 employees as of Dec. 31, a decline of 3,700 from a year earlier, according to the company's annual filing today with the U.S. Securities and Exchange Commission.
Hartford is "currently focusing on its property & casualty, group benefits and mutual fund businesses," according to the filing.
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