Acrisure Cuts 2,250 Jobs — 11% of Workforce — Directly Citing AI and Automation Transformation

Acrisure, the Grand Rapids-based global insurance broker that has grown from $38 million in revenue in 2014 to nearly $5 billion in revenues today and a valuation exceeding $30 billion, announced plans to reduce its headcount by approximately 2,250 employees in a letter from CEO and co-founder Greg Williams to staff on May 20, 2026. The cuts represent approximately 11% of Acrisure's total workforce and will primarily impact US-based operations, with the process expected to continue in phases through 2027.

Williams framed the decision in explicitly technological terms, stating that 'advances in technology, AI, and digital platforms are fundamentally changing how businesses operate, how clients expect to be served and how value is created.' He described the transformation as non-incremental — requiring the company to restructure its North American Insurance division around individual lines of business rather than its current operational model, 'while operating as one unified enterprise.'

This is the second major headcount reduction at Acrisure in less than a year. In October 2025, the company had already signalled a more modest cut of approximately 400 positions, primarily in accounting functions, also citing AI. The May 2026 announcement is a dramatically larger restructuring. Acrisure ranked third in Insurance Journal's 2025 Top 100 Independent Property/Casualty Agencies report with about $2.8 billion in P/C revenue.

The broader context underscores structural forces shaping the insurance brokerage industry. Reagan Consulting data shows that median organic growth for US brokers and agents slowed to 5.9% in Q1 2026 — the slowest pace since 2021 — with public retail brokers averaging just 3.2% growth. Public broker stocks fell between 10% and 45% year-to-date through early May 2026, with valuations compressing to their lowest EBITDA multiples in a decade. Industry observers note that Acrisure is not alone: AI-driven workforce reductions have been announced across financial services broadly, with Meta announcing a 10% headcount cut on the same day as Acrisure's announcement.