Delaware | 1-12332 | 95-2492236 |
(State or other jurisdiction | (Commission File Number) | (IRS Employer Identification No.) |
of incorporation) |
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Protective Life Corporation announced today a reduction of workforce impacting 87 employees, effective at the end of the year. The estimated cost associated with the reduction of work force is approximately $1.5 million after income tax. The action was taken to eliminate redundancies and realize efficiencies and to maintain a competitive position in the face of rising reinsurance rates, potential changes in the regulatory environment that could impact product sales, and a generally competitive marketplace.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
PROTECTIVE LIFE CORPORATION |
By: /s/ Steven G. Walker | |
Steven G. Walker | |
Senior Vice President, Controller and Chief Accounting Officer | |
(Duly Authorized Officer) | |
Date: December 9, 2004 |