Major insurance company will soon close Ballantyne office, as it lays off 164 people
As part of a plan to consolidate its employees into two locations in Massachusetts, this summer Massachusetts Mutual Life Insurance Company is closing its Ballantyne office and laying off about 160 people.
The positions based out of the office at 11215 North Community House Road are corporate roles and include a variety of functions, from call center representatives to investment services professionals, according to spokeswoman Laura Crisco.
About 300 employees at the Ballantyne office were informed last year of MassMutual’s decision to close the office, Crisco said. The insurer is similarly closing offices in Connecticut, New Jersey, Tennessee and Pennsylvania, and moving positions in those offices to its campuses in Boston and Springfield, Mass.
Last year, Charlotte employees were given the option to relocate to Massachusetts, Crisco said. The 164 remaining workers are opting not to, and will receive severance packages. The office will close completely in July, the company said in a Worker Adjustment and Retraining Notification Act notice filed to the state recently.
The company’s move is part of a plan its footprint in its home state, where it expands to grow its workforce by approximately 70 percent by the end of 2021, the Observer reported last year.
MassMutual said it plans to retain other offices only in New York, Phoenix and Amherst, Mass.
MassMutual says the closure of its Ballantyne office does not affect its other locations in Charlotte, including its MassMutual Carolinas office in SouthPark and its asset management affiliate Barings, which has offices uptown.
This story was originally published April 8, 2019 at 3:55 PM.
