Acrisure, a global financial services and technology company headquartered in Grand Rapids, Michigan, has announced plans to eliminate 400 accounting positions in the first quarter of 2026. The company stated the decision is a direct result of its ongoing investment in artificial intelligence and automation technologies designed to streamline its operations.
The job reductions will affect employees across Acrisure's global operations, with approximately half of the impacted roles based in West Michigan. CEO Greg Williams described the move as a necessary step in the company's technology-driven transformation, which began with a significant AI acquisition in 2020.
Key Takeaways
- Acrisure will eliminate 400 accounting positions in Q1 2026.
- The job cuts are attributed to the implementation of artificial intelligence and automation.
- Approximately 200 of the affected positions are located in West Michigan.
- The move follows a $400 million AI-related acquisition made by Acrisure in 2020.
- Company CEO Greg Williams called the decision "painful" but essential for future competitiveness.
Details of the Workforce Reduction
Acrisure confirmed the planned workforce changes on Wednesday, providing a timeline that gives affected employees an extended notice period. The 400 positions are all within the company's accounting departments.
The impact will be felt both locally and internationally. Around 200 of the roles are in West Michigan, where Acrisure has a significant presence with just under 1,000 employees. The remaining 200 positions are distributed among the company's various global offices.
In a letter to employees, CEO Greg Williams acknowledged the contributions of the staff whose roles will be eliminated. He stated that the decision was difficult and affects individuals who have been crucial to the company's growth.
"Our colleagues have been tremendous. They’re not only great teammates, but they’ve been a carrier of a culture and a strategy in a company that they’ve helped build."
Strategic Shift Towards Technology and AI
The decision to automate these accounting roles is part of a broader, multi-year strategy at Acrisure to integrate technology into every aspect of its business. This strategic shift was significantly accelerated in July 2020.
The $400 Million AI Investment
In 2020, Acrisure acquired the AI-powered insurance practice of Tulco, a Pittsburgh-based company. The stock-for-stock transaction was valued at $400 million and made Tulco a major minority shareholder in Acrisure. This acquisition provided the technological foundation for the automation initiatives now being implemented.
Williams explained that the company has spent the last five years focused on deploying technology to enhance efficiency and provide better services to its clients. The current job cuts are a direct consequence of these long-term investments bearing fruit.
"The last five years have been about innovating and deploying technology anywhere and everywhere that we can," Williams said. He added that while the outcome was anticipated, it does not diminish the difficulty of the decision.
"You kind of knew this day was coming at some point as you’re doing these investments and leaning into innovation, automation," he remarked. "But it doesn’t make it any less painful."
Company Financials and Market Position
Williams emphasized that the layoffs are not a response to financial distress. Instead, he framed the move as a proactive measure to maintain a competitive edge in a rapidly evolving market.
Acrisure by the Numbers
- Global Workforce: 20,000 employees
- Michigan Workforce: 2,000 employees
- Revenue Growth: From $38 million to nearly $5 billion over 11 years
- Acquisitions: Approximately 1,000 small and mid-sized firms
"This isn’t anything about pressure or pain point in the bottom line," Williams stated. "This is about remaining competitive in a very competitive world and meeting clients where they want to be met and deploying capital where we need to deploy it in order to make all that happen."
Acrisure, founded in 2005, has experienced massive growth, largely fueled by its strategy of acquiring smaller insurance companies. The company serves a client base where 98% of businesses have 100 or fewer employees. The goal, according to Williams, is to use technology to offer these smaller clients services and solutions that help them compete with larger corporations.
Support for Affected Employees and Future Plans
Acrisure has outlined a support plan for the employees who will be leaving the company in 2026. The company confirmed it will provide "severance packages with comprehensive outplacement support." Additionally, affected employees will receive any earned "discretionary bonuses."
This round of layoffs is the largest in Acrisure's history. When asked if the move was related to persistent rumors about the company considering an initial public offering (IPO), a spokesperson stated, "This is about Acrisure’s technology and automation journey."
Despite the job cuts, the company maintains its commitment to its home base. Officials said Acrisure is "very committed" to Grand Rapids and the state of Michigan. To support this, the company currently has 100 open positions in West Michigan. Acrisure moved into its new seven-story headquarters in downtown Grand Rapids in August 2021, solidifying its local presence.
The use of AI as a reason for job cuts is a growing trend. According to Challenger, Gray & Christmas, a firm that tracks employment data, thousands of job cuts have been attributed to artificial intelligence over the past year, highlighting a significant shift in the labor market.