W.Va. Workers' Comp Insurer Plans Staff Cuts

By: Associated Press
By: Associated Press

Charleston, W.Va. (AP) -- Brickstreet Insurance is looking to shed about 24 jobs as it continues adjusting to a market in which it's no longer the sole provider of workers' compensation insurance in West Virginia.

President and CEO Greg Burton says buyout offers have been sent to about 60 employees, who have until Nov. 16 to decide.

Burton says the company may need to lay off workers if not enough employees accept the buyout.

Burton says the cuts come as Brickstreet continues to evaluate its share of the workers' compensation market. With about 390 workers, Brickstreet has about 60 percent of the market.

Until July 2008, the company created by the legislature had a monopoly.

Last november, Brickstreet cut about 50 jobs.

(Copyright 2009 by the Associated Press. All rights reserved.)

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