MADISON, Wis. (WFRV) - A Wisconsin-based insurance corporation has announced it will be reducing resources at two of its locations, resulting in over 300 employees being laid off. According to a Worker Adjustment and Retention Notification (WARN) letter submitted to the Wisconsin Department of Workforce Development, Wisconsin Physicians Service Insurance Corporation (WPS) states that the layoffs are "in response to competitive pressures and contract losses in the federal government contracts market." As part of its resource reduction plan, WPS is reducing its workforce at its Monona and Madison locations, with permanent layoffs beginning January 21, 2025. Wisconsin manufacturing plant to close in 2025, laying off 45 employees The WARN letter states that 313 employees will be affected. The reduction includes 303 employees at the West Broadway location in Monona and 10 employees at the Tradewinds Parkway location in Madison. No additional details were provided.