ACT, one of the largest employers in Iowa City, announced on Wednesday it was eliminating eight percent of its workforce. The statement announcing the job cut did not specify where the 100 jobs that will be eliminated are located.
The nonprofit educational services company is headquartered in Iowa City, where nearly 950 of its approximately 1,200 employees work.
“These moves are being made to ensure we have the right capabilities as we reprioritize our work,” ACT CEO Marten Roorda said in the press release that announced the job cuts. Roorda also said, “ACT is financially sound.”
According to the ACT press release, the severance packages for workers being laid off will “exceed industry norms.”
Earlier this month another major local employer, Procter & Gamble, announced it was moving 500 jobs from Iowa City to a new production facility in West Virginia.