Aviva Job Cuts to Affect 43 Percent of Insurer's West Des Moines Work Force

Nearly 800 workers will lose their jobs over the next two years as part of the private equity firm Apollo Global Management’s pending $1.8 billion purchase of at West Des Moines-based Aviva USA.

The cuts, which represent 43 of the workforce, go deeper than initially expected, the Des Moines Register reports. Apollo, which plans to fold Aviva’s annuity operations into its insurance business, Athene Holdings Ltd., initially said that about 450 workers would be let go. Now, it says that another 326 jobs will be eliminated.

So far, about 300 workers left voluntarily. Another 154 were given 60 days’ notice last week that their jobs would be eliminated.