The company already announced a total of 605 job cuts this year before its current round of layoffs. SanAntonio SATX SanAntonioTX USAA economy
reported a loss of $1.3 billion
on sales of $36.3 billion for 2022. That compares to $3.3 billion profit on sales of $37.5 billion the prior year. Officials with the USAA, which is heavily reliant on its insurance products, blamed the loss on record inflation, a rise in natural disasters and a drop in investment returns.
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