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Ameritas lays off 73 people, including 40 in Lincoln
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Ameritas lays off 73 people, including 40 in Lincoln

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Ameritas building

Ameritas Lincoln office

Federal Reserve Chair Jerome Powell underscored the U.S. economy's ongoing weakness Tuesday in remarks that suggested that the Fed sees no need to alter its ultra-low interest rate policies anytime soon.

An "enterprise-wide review" has led to layoffs this week at one of Lincoln's largest companies.

Ameritas eliminated 73 positions this week, including 40 in Lincoln, where it has its headquarters.

Hunter Reeves, a spokesman for the insurance and financial services company, said the layoffs are not related to the coronavirus pandemic and are part of a review that started in 2019 and is focused on making process, technology and other improvements.

"As a growing organization, the right structure is important," Reeves said in an email. "Sometimes that means making changes to build a more effective organization."

The positions eliminated, which were spread out across job titles and departments, account for about 3% of the workforce at Ameritas, which has about 1,200 employees in Lincoln and 2,400 overall.

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Reeves said those losing their jobs will likely receive severance and help finding other jobs, and many are eligible to apply for other jobs within the company.

Ameritas has not yet published its 2020 annual report, but in 2019, the company reported pre-tax income of $146 million, which was 12% higher than in 2018.

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Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

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Business reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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