CRM Announces Further Layoffs in U.S. Downsizing

CRM Holdings, the Bermuda-based parent of group self-insured trust manager Compensation Risk Managers (CRM), told securities regulators last week it has trimmed another 30 employees from its United States subsidiaries.CRM Holdings said in a filing with the U.S. Securities and Exchange Commission that the layoffs constitute 15% of its consolidated workforce and will primarily affect its office in Poughkeepsie, N.Y. CRM Holdings notified the affected workers last Thursday. They will leave their jobs this Friday.The company, which owns Majestic Insurance Co. in California and the reinsurer Twin B...