Asurion primarily sells insurance and warranties for electronic devices, such as cellphones, under the brands of carriers such as AT&T and Sprint. The company reported $8.5 billion of revenue in 2018, ranking Asurion No. 1 on the NBJ's List of largest privately held businesses in the region. The company is also one of the city’s largest employers, with 4,600 local workers.
The layoffs come as Asurion is making a $288 million investment in Nashville, while receiving a $4.4 million state grant toward construction of its new headquarters in the Gulch. Asurion broke ground on the 552,800-square-foot, two-building project in March.
As part of that deal, Asurion has committed to creating 400 new jobs in the city with an average wage of $47 per hour over the next five years, according to an incentive package with the state.
The layoffs do not impact Asurion’s plans to move into its new headquarters by early 2022, according to the company, or its commitment to creating 400 new jobs. In fact, Asurion is hiring now, spokesperson Nicole Miller said, and laid-off employees are encouraged to apply for open positions.
"As a high-growth company, we continually evaluate our operations across the company to determine how to most effectively and efficiently serve our partners and meet the needs of our customers. The changes we’ve made today will help us continue our 25-year history of growth and providing helpful services to customers into the next decade and beyond," Miller said.
Asurion does this about every two years. I got caught up in it in 2013. They layoff a department, outsource it, then rehire the department when they realize the outsourcing is not working. It cannot possibly be a good business practice. It has to be based on how they "book" the payroll/benefits.