[JViello]

I'm not getting the warm fuzzies about all the divestiture going on at the Hartford...now they are selling a lot of real estate they own in Hartford and the Metro.

A lot of business leaders are scrambling as well during their restructure. It would be a serious blow to the Hartford region of we lose this giant of a company...even if half goes away as they sell off.

The Hartford selling tower | Hartford Business

The state is waiting with bated breath as its largest insurance company goes through a major restructuring that will include the financial services giant exiting its annuities business and selling its individual life-insurance and retirement plans businesses.

[CTbrooktrout]

Well what's left really among their growing businesses? I've read they really want to expand their asset management business. That requires good portfolio managers and analysts. Not sure how much back office operations people they need as some of that can be outsourced, especially the reporting end. Geographically I think they're in an OKAY place between Boston and New York but I think they'd rather be closer to New York if they could pick up and leave today with no hard feelings.

It would be weird though, The Hartford Investment Management Co not being in Hartford area or CT. It's almost like an illegitimate loss of credibility brand wise.

I do think this part of the business will move. If not now when restructuring can invite big changes, then I'd say within the 7-12 year time period. I just think they'll want to be closer and be attractive to potential employees in the NYC area workforce.

[Capital Guy]

Anyone think Aetna plans to move? They already closed their Middletown office and moved it to Hartford, and now they got rid of the Farmington Ave building on their website and employee ID cards. Signs of things to come??

[JayCT]

I don't think this is a sign of any great change in the company but more relating to a big trend in insurance that has caused all companies to need less building space. "Work from home" options have reduced the number of workers that need dedicated offices and computers have reduced the needs for file storage and access.

Hartford's insurance industry has one of the highest Work from Home populations in the world now (like 60% now) and the trend is getting bigger each day. That is why Aetna has been able to maintain the same number of workers yet has closed its 1.4 million square foot Middletown facility and consolidated them to Hartford.

Still the changes going on at The Hartford will be interesting but it is way too early to be concerned. Aetna sold its financial services unit to ING and they not only stayed in greater Hartford (they built a large building in Windsor) but have actually expanded. Who knows if the same will happen with The Hartford. Jay

[DawnMTL]

I can only speak to one of their departments -- although it's a big one -- but I know that they've done a TREMENDOUS amount of outsourcing of their work. The Hartford might have to be renamed The India soon if that trend continues.

[JViello]

Originally Posted by JayCT

Still the changes going on at The Hartford will be interesting but it is way too early to be concerned. Aetna sold its financial services unit to ING and they not only stayed in greater Hartford (they built a large building in Windsor) but have actually expanded. Who knows if the same will happen with The Hartford. Jay

Well, kind of. ING is not headquartered in Hartford, they are a Dutch company, so technically we lost that. Yes the jobs are still here for the most part, but without a headquarters, I don't see it as stable as if there was.

The Hartford is selling off a LOT of the company. It will be interesting to see who buys and if they stay etc.

[htfdcolt]

Originally Posted by DandJ

I can only speak to one of their departments -- although it's a big one -- but I know that they've done a TREMENDOUS amount of outsourcing of their work. The Hartford might have to be renamed The India soon if that trend continues.

LOL! Along those lines, did anyone realize that the Hartford Courant's customer service group (the folks you call for a vacation stop) is located in Indonesia? A sign of the times

[JayCT]

Originally Posted by rajmelk

LOL! Along those lines, did anyone realize that the Hartford Courant's customer service group (the folks you call for a vacation stop) is located in Indonesia? A sign of the times

The world is getting smaller and smaller every day. Kind of scary. Jay

[MikefromCT]

I think it's really crappy that alot of these companies are slashing employees, sending jobs overseas while the executives are the only true benefactors - all the while saying they have no choice, that this is all to comply with shareholder demands, blah blah blah. They want to send jobs in droves to India? Fine. May I suggest we outsource the CEO's there as well? I hear Bombay is just lovely this time of year. Their immense salaries would certainly do better in a country with a much lower cost of living. Bastards.

[Leilani Vasquez]

What's ironic is that the department that the Hartford is talking about getting rid of is located in that brand new building on the corner of Day Hill Road and Blue Hills Avenue Ext. in the Windsor Corporate area.