Nashville-based phone insurance and tech repair company Asurion is laying off hundreds of employees this week. 

Asurion is reducing its company's global workforce across all levels for future growth, according to a statement from the company to The Tennessean. Impacted employees are being provided severance, benefits continuation options and outplacement services. 

“We continue to invest in our company,” said Tony Detter, Asurion chief executive officer. “A big part of what has made us successful is our constant drive to be better and improve; however, any decision to part ways with colleagues, many of whom have contributed to the company’s longstanding success, is difficult and made with great care.”

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Job cuts will affect one percent of the company's Tennessee workforce, Asurion stated. While the company employs more than 4,000 Nashville workers, it's unclear how many are across the state. 

Asurion ranks in the top 20 largest employers across the Greater Nashville Area with $10.6 billion in revenue.

The tech company bought uBreakiFix, a same-day electronic repair outfit, in 2019 and is in the process of rebranding existing locations across the country to Asurion Tech Repair & Solutions storefronts.

While working to integrate the brand into Asurion's overall profile, the company is also expanding their reach by embracing a new market of tech repair: home appliances. The company advertises repair for washing machines, refrigerators, dishwashers and other appliances made by major brands. 

Asurion employs a total of 23,000 people, across 18 countries and 55 locations, according to its website.

Asurion laid off hundreds of employees in 2019, months after breaking ground on a new $288 million corporate headquarters. The tech giant moved into the all-glass Gulch tower on Church Street last year.

News of the layoffs comes as executives were confident about the company's potential growth and a wave of other major U.S. companies layoff employees and halt hiring. 

Molly Davis contributed to this report. 

Arcelia Martin covers growth and development for the Tennessean, a part of The USA TODAY Network. Reach Arcelia at amartin1@gannett.com. Follow her on Twitter @arcelitamartin.