If the economy turns around, do you anticipate any Allstate layoffs? Any chatter, news or rumors?
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Allstate is always selling shareholder value. Reality is Allstate is shrinking market share and look for mass exodus of agents soon when renewal commissions drop.
Yep the company will be sold to Walmart by 2023.
Subrogation was outsourced on November 1st
More cuts everywhere to come. Bodily injury Claims are starting to explode
Company will be sold by 2023 if not before.
I think cut backs and layoffs will be status quo until TG is a thing of the past.
There is no "layoff period" it will just be constant of doing business, cutting, consolidating and outsourcing. They want to lower price products I understand but how bout kicking in some of those 10s millions annual bonuses.
They are just filling the holes waiting to pull the trigger to jump to India. They have no intention of growing in the USA where employees are concerned. That is offshore and AI growth. If you are a data engineer or other computer hack you may have a job at Allstate going forward. Don’t count on it. As someone else said on this board, you will never been as smart or as quick as the bots they’re developing. They need you to hold down the fort until these bigger schemes can be implemented. Layoffs 2022 you bet
If the economy "in general" improved in 2022, that doesn't mean things will improve for Allstate.
I suspect that Allstate's competitors will be quicker and smarter about figuring out severity trends. I expect Allstate leadership to panic like it's 2015. Ask yourself if you think the portfolio can withstand a repeat of that.
The word has been the big moves to India that have been planned and delayed by COVID get back on track in 2022. I would expect large layoffs company wide including here in claims. The recent staff shortages and rehires in claims and other areas don't mean things are safe there. Mass move of claims to India will still happen. Costs of hiring new U.S. employees for even just 6-12 months will easily be recouped with the $5 an hour wages in India. 2022 will easily top 2020 on the layoff front.