Prudential Financial Inc. has filed another round of layoffs in New Jersey, bringing the total number of job cuts at its Newark headquarters to 237 since July, according to filings with the state’s Department of Labor.
The latest notice, submitted under the Worker Adjustment and Retraining Notification (WARN) Act in March, covers 54 positions that are expected to be eliminated between May and June. The filing marks the fourth such notice submitted by the company in New Jersey over the past several months.
Prudential said the workforce reductions are part of an ongoing review of its organisational structure. In a statement, the company said it periodically evaluates its operations to ensure alignment with evolving customer needs and broader strategic priorities.
“This includes periodically eliminating certain roles that no longer align with Prudential’s strategy,” the company said, without providing details on the specific functions or departments affected in the latest round of layoffs, according to a Best Wire report.
The most recent reductions add to earlier job cuts disclosed since mid-2025. In total, 237 positions have now been identified for elimination in Newark through multiple filings. The pace of reductions, however, is lower than in 2024, when the company filed WARN notices covering a combined 637 positions.
The layoffs come amid improved financial performance for the insurer. Prudential reported net income attributable to the company of $905 million for the fourth quarter, compared with a net loss of $57 million in the same period a year earlier.
Shares of Prudential Financial Inc., listed on the New York Stock Exchange under the ticker PRU, were trading at $95.44 on March 25, up 0.68% from the previous close.
Prudential’s underwriting entities continue to hold a financial strength rating of A+ (Superior), indicating strong claims-paying ability.
The filings reflect continued adjustments within the company’s workforce as it aligns operations with its current business strategy, following a period of broader restructuring across the insurance and financial services sector.
