Quadrant Homes lays off 45 workers

Real estate

Quadrant Homes laid off 45 workers this week because of a slowdown in new-home sales in the Puget Sound area.

Jobs were cut across the board, from sales and marketing to production, design and administration. The company, a Bellevue-based subsidiary of Weyerhaeuser, now has about 180 workers.

Quadrant is the largest homebuilder in Washington, specializing in entry-level single-family homes. It builds three homes a day, down from seven a day in 2007.

Insurance

Safeco sale gains state's approval

The state Insurance Commissioner's Office Thursday approved the sale of Seattle-based Safeco to Liberty Mutual Group, the last step needed to complete the $6.2 billion deal.

After the approval, Safeco said the transaction is expected to close on Monday. At the end of Monday trading, Safeco shares will be delisted, and Boston-based Liberty Mutual will acquire the company for $68.25 a share in cash.

Under the terms of the deal, privately held Liberty Mutual is subject to increased oversight and will submit quarterly reports on its finances and on its treatment of policyholders for the next two years, Insurance Commissioner Mike Kreidler said in a statement.

Aerospace

Boeing responds to SPEEA proposals

Boeing, whose Machinist workers went on strike earlier this month, responded Wednesday to union contract proposals for engineers and technical workers. Union leaders said they were disappointed with what the company had to say.

Compiled from Seattle Times staff