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MONY Life To Cut Advisors, Jobs

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NU Online News Service, Dec. 16, 3:43 p.m. – MONY Life Insurance Company, a unit of The MONY Group Inc., New York, says it will be closing several offices in its career agency system and refusing to renew contracts with financial advisors who have failed to meet company sales goals.

MONY Life will also eliminate about 180 of the company’s 2,050 jobs by cutting information technology, insurance services and other support operations.

MONY says it will give more information about the cost of the changes in January 2003.

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