Despite a series of layoffs and the discontinuation of two product lines, American Skandia insists the company will get bigger.

Last week, the Shelton, Conn.-based financial services firm announced that it will stop selling its defined contribution and flexible premium variable life products. The move is expected to affect approximately 40 employees, but Skandia says it will realize an overall gain in staff as the firm gears up its marketing and distribution teams to focus more strongly on its variable annuity and mutual fund products.

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