What are the chances we're looking at more cuts this month?
12 replies (most recent on top)
also want to point out no cuts came in march, and april is looking decent on that front. they are too busy shuffling who they do have in house around, to justify keeping their training infrastructure, and create chaos they can then have managers fix. They dont have time to get rid of people everyone is running around fixing messes the company is creating to stay occupied.
Not true.....
https://www.emcorgroup.com/markets/CaseStudies/FinancialSrvices/StateFarm_a4b8f.pdf
Actually we stayed at around 80k for a long time and briefly got up a little higher before starting the move down.
To be totally correct current staffing is 57,500 employees (if not lower) so the numbers are basically the same.... for the number police!
https://newsroom.statefarm.com/state-farm-offers-more-flexibility-to-employees/
How many we got now?
The post stating 10 years ago we had 90k employees is a lie. The high water mark eas 71k.
Hopefully not much more, every department and employee without a voice got rated 1/2 points lower in reviews this year. If they have to cut much more I’m looking elsewhere for employment.
The below comment is the most spot on. Be in charge of your destiny. No one is going to come into rescue your job. Underwriting is no longer a art, it is an algorithm. Claims can automated, outsourced .. CSOs closed. LOCs are closing. Bloomington will lose people thru attrition and the positions rehired in a hub. Would not want to be a realtor in BN over the next ten years. Jmho
https://www.mckinsey.com/industries/financial-services/our-insights/insurance-productivity-2030-reimagining-the-insurer-for-the-future
So going to post this again for everyone to bookmark! This was shared with employees and leadership and exec has stated this is our path moving forward. Fact! So in the next 8 years we are going to reduce expenses..ie.staffing by 40%. Folks a little history... 10 years ago we had 90K employees and today we have right around 59K....and 6 million more policies than we did 10 years ago. SF has eliminated 31K jobs through lying, cheating, manipulating, discriminating, and just plan making peoples lives unbearable so they leave. So...Yes you can't call it a layoff..but it is the same thing but just through a different method! That's about 3K jobs eliminated a year for 10 years!! So of the 10 co-workers you know today including CAs, CSs, TMs, SMs, TMs and on... 4 of them will not be here in 8 years. They will start getting shown the door at least a couple of times a year to get to the 40% expense reduction number. Tipsy just mentioned it on the video this past week that we are still "reducing expenses" and more to come on the new operating model and getting rid of redundancy! It is not secret or " I wonder if THEY understand" du-b arszz comments! They have a playbook...we are all just a number... 1-59,000 and they lower that number whenever they can, however they can.
Basically any field job is gone and will go to a vendor... ask estimatics and auto prox folk just moved into the office.
With a few exception, any manager that wants a job has to move to a hub, we have 20K employees in the field! Spans of control are around 10-11 so that is about 1500-2000 leaders right there. Only about 20-30% will move. The LOC people will be kept around for another a year or two but that is it.
Underwriting you will be automated! Personal lines underwriting disappeared at Progressive and Gecio over a decade ago!
Saddle up, eight seconds comes fast and you better hang on!
Might want to invest in a calendar there sparky.
HR and L&D just finished. Now they’re getting prepped for cuts in the CCC. Not sure who’s next, but every department has been give the charge to look at their “operational model” and see where they can make cuts. I mean, look for where they can reduce redundancies and improve efficiencies.
Since this is April, additional March cuts are unlikely.
The chances of any of the dipsh_ts on this site knowing or telling you anything meaningful are slim to none.
I'm hoping slim to none, but you never know with this place.