METLIFE AGREES TO JOBS PLAN:

Connecticut Governor M. Jodi Rell and MetLife Chairman and Chief Executive Officer Robert H. Benmosche announced an agreement to keep 1,310 jobs in Hartford following the acquisition by MetLife of Travelers Life & Annuity. The announcement came after several weeks of talks between representatives of Governor Rell’s office and MetLife. Rell said that the job losses, which stood at 1,200 when the talks began, will now total 490.

MetLife has guaranteed that 1,310 jobs will be preserved for at least one year following the official closing of the deal. Moreover, MetLife has promised that there will be no change, apart from attrition, to the approximately 1,200 positions it currently has in Connecticut, including the towns of Glastonbury, Rocky Hill, Shelton and Westport. MetLife’s application for approval of the transaction is pending before the state Department of Insurance.