LABOR, MAINE DEPARTMENT OF
Standard Insurance announced on January 30, 2008 that it was closing its South Portland office due to corporate restructuring. The risk management and customer service operations performed in South Portland are being moved to the company corporate headquarters in Portland, Oregon. The company is a subsidiary of StanCorp Financial Group, an investment and financial services firm that employs 3400 workers worldwide. The closure will result in 147 people being dislocated from their jobs in South Portland, Maine. Rapid response activities occurred at Standard on February 10th. A worker needs survey was prepared and distributed to all workers at that time and received a 60 percent response rate. According to Rapid Response survey results, 74 percent of respondents are looking for assistance with job search and 70 percent are looking to access training opportunities to obtain new employment. Standards workforce is relatively young (75 percent are younger than 50 years old and a third are under 35 years old) and are fairly well-educated. All of Standard workers have a high school education. Fifty percent of the workforce earns between $36,000 and $50,000 per year while 25 percent earns over $65,000 per year. ARRA funds will be targeted to provide support for the affected workers.