MassMutual Moving 300 Jobs From Charlotte To Massachusetts

Feb 9, 2018

Financial services company MassMutual is moving about 300 corporate office jobs from south Charlotte to Massachusetts as part of a big restructuring announced this week.

On Thursday, the insurer and investment advisor announced a $300 million expansion that includes adding 1,500 jobs at its headquarters in Springfield, Mass., and 500 jobs at a new campus on the waterfront in Boston.

MassMutual said in a press release this week that many of the new jobs will come from consolidating operations around the country. That includes accounting, finance and other operations in Charlotte's Ballantyne area. A spokeswoman said that office will close by the end of 2019 and employees will be relocated to Springfield, Mass., and Boston.

The company said it's getting $46 million in incentives from the state of Massachusetts in exchange for adding 2,000 jobs there.

The restructuring won't affect sales and advisory offices in Charlotte or the operations of Barings, an investment management firm with about 450 employees here, the spokeswoman said.