Can somebody here please give me a succinct explanation of what's happening at State Farm right now? All I know is my mom is completely stressed out all the time, but she keeps claiming nothing is wrong at work.
I've been through posts here, but they are all over the place and I can't put together a complete picture. Can somebody help me out, please?
Not seeing were they lost ten billion dollars. State Farm revenue was up when reported in 2016 and between 80 and 90 billion. Their net profit was 2.2 billion which was down but not loss like stated by some. Also insurance companies lose policies all the time and gain some from people leaving other companies.
We seem obsessed with mediocrity, financial losses, and incompetence. It was great while it lasted, but our time in the sun is ending. Get out now while you can.
What's going on at State Farm?
"I have no idea." -God
And the best SF can do to try to stop the bleeding of customers is an idiotic commercial about a she-shed. The future is bright!
@tlk has your summary
#gold mom
What's going on at State Farm?
Can somebody here please give me a succinct explanation of what's happening at State Farm right now? All I know is my mom is completely stressed out all the time, but she keeps claiming nothing is wrong at work.
I've been through posts here, but they are all over the place and I can't put together a complete picture. Can somebody help me out, please?
Your mom? You mean, “your Pantagraph?” Lol..
Aside from the layoffs, I’ve never seen morale this low in my more than two decades of service. In operations it’s all about the number of widgets you produce - there is no caring for the humanity of the worker. None! They tease you with a good amount of vacation days, but you can’t use them when YOU want to. Have you heard that from your mother? Professional white collar workers now have to punch in and punch out, just like on a factory line, and real penalties will follow if you do it wrong. I could go on, but you get the idea. I wish the best for you and your mother.
What department does your mom work in?
Two years ago new leadership at the highest levels took over control of State Farm and have begun a massive, far-reaching overhaul of every department of the entire company. As a result of these massive and still-in-progress changes, many long term employees have lost their jobs and many others will soon lose theirs.
The changes are supposed to make State Farm much more profitable. They are failing. Very badly.
In the first two years of these changes we have lost billions of dollars of profits, we have lost over one million customers, and we have (and continue) to lose many of our best employees at many levels (workers, bosses, etc, etc). No one is safe from becoming unemployed and many employees are understandably stressed out because their future employment is now very, very uncertain. No one knows when these changes will be concluded, either.
Be there for your mom. Tell her how proud you are of her accomplishments. Believe in her. She will appreciate your support.
There is 0 evidence that the Bank will be sold, and your percentages are wrong. I also doubt this person is representing themself honestly. A post almost exactly like this appeared a month or so ago. Seems like most of the people on this board are lazy local reporter's fishing for the next story or trolls. The previous poster is just regurgitating the same BS info the trolls have put out. This board has been good for almost no real info
Bottom Line: SF has lost almost $10 Billion and hundreds of thousands of policies in the last 2 years.
Last year they announced job cuts across the country and recently started cutting jobs in Blo/No. They are broad cuts across IT (900~) jobs, Ad Services (60-75%) and Learning & Development (80%~). They have realigned Bank AVP's and thereis credible evidence to surmise SF Bank will soon be sold.
Give your mom a hug when she gets home.