'State Fund' to eliminate 500 Bay Area jobs

January 6, 2012 7:26:29 PM PST
The state compensation insurance fund says it will eliminate nearly 500 Bay Area jobs.

It is part of a statewide workforce reduction. "State fund," as it is known, once carried more than half of the worker's comp policies in California. Now, it is less than 15 percent.

256 jobs will be lost at State Fund's Pleasanton office. Vacaville will lose 130. 60 jobs will be lost in Santa Rosa. Stockton will lose 57 and 36 jobs will be lost in San Jose.

Most of the eliminated positions are office and clerical jobs. They will be gone by April.