GEICO Lays Off 93 Marlton Employees Amid Nationwide Cuts

Correction: A previous version of this story said the layoffs would occur in the Cherry Hill office. This information was incorrectly stated on a WARN notice from the state, which Patch referenced in its reporting, and was initially confirmed by GEICO. The correct location for the layoffs is the Marlton office, a GEICO representative has clarified to Patch. We regret any confusion this may have caused.

MARLTON, NJ — With mass layoffs underway at GEICO, the insurance company will cut nearly 100 jobs from its Marlton office.

GEICO plans to lay off 2,000 employees nationwide, representing 6 percent of its workforce. The staff reduction will include 93 employees from its corporate office in Marlton.

Marlton's layoffs will take effect Jan. 17, according to a WARN Notice shared by the New Jersey Department of Labor.

In a company memo announcing GEICO's layoffs last week, CEO Todd Combs called the last few years "a very difficult period" throughout the industry.

"Levels of inflation that we haven't seen in decades, delays in parts or labor shortages extending time to repair, rising medical costs, and other factors have caused our loss costs and combined ratio to increase, alongside the entire industry," Combs wrote to employees.

Impacted employees were contacted the day GEICO sent the memo.

It's uncertain whether other New Jersey employees will lose their jobs. The state labor department hasn't shared any other WARN Notices — required postings of certain mass layoffs — for GEICO as of Wednesday.

GEICO's Marlton office is located at 8000 Lincoln Dr. E.