Wauwatosa-based insurtech company
Zywave announced Monday that approximately 100 of its U.S.-based positions are being relocated to the company’s office in the Philippines. Less than one-third of the 100 employees affected are based in the Milwaukee area.
In a Monday statement, Zywave leadership cited three reasons for moving the jobs out of the country: a desire to simplify the company’s go-to-market strategy, enhancing the overall customer experience and building a more “cost competitive” structure.
“The restructuring decisions were difficult and made with the utmost care,” said
Jason Liu, chief executive officer of Zywave. “Zywave is a strong, agile company and to remain competitive in our evolving global economy, it's essential we continue to optimize operations at all levels of the business while upholding the highest level of service and developing the best solutions for our customers. We’re confident these changes will set us up for even greater success in the years to come.”
Moving forward, Zywave plans to expand its footprint in the Philippines because several of the company’s entities have maintained a successful presence there for over a decade.
In 2020, Zywave
acquired global insurance data provider
Advisen. The firm had global offices in New York, the United Kingdom and Philippines.
Zywave also cut several positions
last year due to slowing growth.
