Pink slips Tuesday at National Life

MONTPELIER, Vt. (WCAX) National Life has laid off 53 employees in Vermont.

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The insurance company says the layoffs were in response to the economic downturn caused by the coronavirus.

In a press release, National Life's Chairman, CEO and President Mehran Assadi said: "Our departing employees have each played a meaningful role at National Life and the painful need to address current realities does not diminish their contributions... I thank each one for their service to the Company."

Assadi says National Life doesn't anticipate any further layoffs.