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A Grand Rapids-based insurance company will cut 2,250 jobs over the next year.
Acrisure, a fintech and insurance firm that boasts annual revenues of more than $5 billion and is worth more than $30 billion, announced Wednesday it would be conduct the headcount reduction in phases between now and 2027.
The layoffs equate to about 11% of Acrisure’s workforce and will primarily impact U.S.-based employees.
In a letter to employees, co-founder and CEO Greg Williams pointed to AI advancements as the reason the company is restructuring its North American workforce.
The company warned in October of 400 layoffs at the start of 2026,with most of the affected positions in accounting, due to advancements in artificial intelligence and other technology.
“Advances in technology, AI, and digital platforms are fundamentally changing how businesses operate, how clients expect to be served, and how value is created,” Williams wrote. “We made our first scaled AI investment in 2020, and as other leading organizations accelerate in this direction, we must continue to push the pace.”
“We need to increase revenue growth through greater connectivity, tighter alignment, and continued investment in technology,” he said in the letter. “This next chapter requires us to continue advancing Acrisure as a technology-enabled company. Our future is not merely about doing the same work in a different structure … it’s about changing how work gets done.”
The company plans to focus on people collaborating with tech platforms, using AI, data and automation to reduce manual work to create faster, more consistent outcomes and build its digital capabilities.
Williams promised comprehensive severance, extended benefits “for a period of time,” and “dedicated outplacement support.”
“This decision affects colleagues who have contributed meaningfully to building Acrisure, and was not taken lightly. It was driven by how work must evolve as we build the company we need for the future,” the CEO wrote.
Acrisure was founded in 2005.
Wiliams is a major donor to Michigan State University. Acrisure also has donated $15 million for the Acrisure Center for Innovation in Children’s Health at Helen DeVos Children’s Hospital in Grand Rapids and $7.5 million for the Heart Institute at the UPMC Children’s Hospital of Pittsburgh.
Acrisure holds the naming rights to multiple venues in and out of Michigan, including the home stadium of the NFL’s Pittsburgh Steelers as well as a new riverfront amphitheater in Grand Rapids.
The fintech company celebrated the grand opening of Acrisure Amphitheater at 201 Market Ave. SW in owntown Grand Rapids this month. It secured the naming rights to the 12,000-capacity venue with a $30 million donation in 2023.
The company is majority-owned by its employees, who number more than 20,000 across the globe, including about 2,000 in Michigan.
mjohnson@detroitnews.com
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.