Insurer To Cut 35 Jobs As It Closes Austin Office

AUSTIN, TX — In a notice to state regulators, Windhaven Insurance officials said this week they would be closing the company's office in North Austin, resulting in 35 local job cuts.

The notice given to the Texas Workers Commission was filed under provisions of the Worker Adjustment and Retraining Notification Act designed to give employees advance notice of layoffs. In the letter to the workers commission obtained by Patch, a company official attributed "...a lack of liquidity and capital" as the reason for the imminent closure of the auto insurer's office at 9050 Capital of Texas Highway effective on Feb. 28.

A separate notice was given for its Dallas office, where 96 jobs will be cut as a result of financial losses. The closure covers the breadth of corporate structuring, including Clutch Analytics, LLC, Windhaven Insurance Services LLC and Windhaen Underwriters LLC, according to the letter sent to regulators by company officials.

"The Company and/or its affiliates have been actively seeking financing to enable the company to continue operating," company officials wrote in their letter. "Unfortunately those efforts have proven unsuccessful, necessitating the company's winding up and facility shutdown."

The job cuts are expected to be permanent, officials added, and none of the affected workers belong to a union. Moreover, the company does not recognize "bumping rights," officials added. The term refers to a tactic allowing workers with seniority to take the job of another employee to avoid being terminated.

"Affected employees will be paid all wages and other benefits to which they are entitled (if any) through their date of termination," company officials assured.