It’s now official Allstate gave the boot to the best spokesperson of a lifetime. Dennis Haybert is now a casualty on the layoff.
He will be replaced with an outsourced person from India.
3 replies (most recent on top)
It is obvious that Allstate is cutting costs. Mr. Haysbert's contract was around $4 million per year. Makes no sense to sign him for another year if the company is for sale. Everyone needs to read between the lines:
*At age 63 Tom Wilson is nearing the end of his run
*Selling off the unprofitable Allstate Life Insurance unit
*Drastically cutting the agency force liability
*Decreasing the work force by 3800
*Moving operations to India
*Going from 13 sales regions to 4 sales xones
*Allstate owns an attractive homeowners product
No need for spokesperson if you are going to be taken over by lets say a Progressive. Allstate is doing a great job at reducing its expense ratio and becoming a very attractive takeover target. Carl Ichan did not jump on the bus because he likes Allstate's management. He is here to help facilitate the sale of this company and make a boatload of money. Be on the look out! The writing is on the wall and the prospect of any long-term employment growth at Allstate is slim to none. Your high lifetime value customers are leaving in droves. Allstate is trying to replace those customers with high volume less profitable internet customers.
Where did you get your information from? How do you know that it wasn't Mr. Haysbert contract that ended and neither party could come to an agreement? I'm guessing since Allstate loves cutting costs they probably decided to have ppl do commercials that are willing to do it for a couple hundred bucks.
They want the face of Allstate to be American then when customers are foolish enough to sign up there will be no Americans in sight.