Sun Life, Wellesley’s top employer, selling off annuities business & 300 local jobs

Sun Life Financial, Wellesley’s top employer according to 2011 statistics, is selling off its annuities business in a move that will affect about 300 jobs at its U.S. headquarters in town. The unit is being sold for $1.35 billion to Delaware Life Holdings in a move not unexpected given that Sun Life had said it planned to exit the business in the U.S.

It remains to be seen what the move will mean for Wellesley employees, though a Boston Globe report says most workers will likely be offered jobs with Delaware Life. The big question is whether they’ll need to relocate.

 

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