- Associated Press - Thursday, September 29, 2016

MILWAUKEE (AP) - Employees at Northwestern Mutual Life Insurance have been told the company will eliminate 100 jobs this year and hundreds more in 2017.

Northwestern Mutual’s top executive John Schlifske made the announcement at an employee town hall meeting Thursday. The company is one of the largest employers in the Milwaukee area with about 5,900 employees.

Northwestern Mutual said earlier this month that job cuts were expected because of continued low interest rates that have made it harder to increase profits. The company was not specific on the number of jobs to be eliminated next year.

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