They might be the last ones most of us have as Allstate employees... Mass layoffs incoming in 2022
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Calls are slow af now in licensed serv..... its scary
@3fgo-my point was there is only a handful of companies with enough capital to buy Allstate, not suggesting any of those 3 would be so stupid. The only US insurance company with the capital would be SF-and all they would want would be the policyholder book, rest is throw away trash.
@3ckc+1emEZsT2 string with ~1% stake? You're delusional
@3gwb+1emEZsT2 none of those companies would be d-mb enough to buy into the dying albatross that is Allstate...
Icahn is steering this sinking ship to a dock where it will be sold. Who knows he may have the ship cut up & sell it in pieces. Either way I would start working on a plan B.
Walmart. Apple, Facebook, take your pick.
My only push back for sale is Allstate makes 40 billion per year revenue and is a fortune 100 company. I don't know who could afford to buy them
Reducing overhead through the sale of almost all physical locations, focus on market growth to increase stock price and operate business in a reactive short term manner. All of this screams SALE! Always have a Plan B this place has and will do what’s best for them.
Claims isn’t going to layoff licensed adjusters. On the contrary , Allstate is desperately trying to lure adjusters over to Allstate after ignorantly laying off half the adjusted in property , commercial and auto in late 2020 during the holidays . Allstate has even upped beginning pay for adjusters .
OP is spot on. The writing is on the wall. This ship will be ready for sale soon.
"India" is being used as a bit fearmongering.
One, you cannot simply move operation to India "overnight". That takes time, and given we are still technically in a pandemic, that only complicates matters further.
Two, not all processes can be moved to India. Customer service positions are one thing; claims are another. I'm sure there are all kinds of licensing issues which would prevent Allstate from moving claims to India.
In short, I'm calling BS on this post. As someone else said, there is already an extreme shortage of workers. Anyone working claims knows this is the case. Some departments are literally weeks behind. Adjusters are working 10+ hours a day, sometimes more. The situation "on the ground" is not one on which another round of mass layoffs is likely, much less feasible.
This board is for information, not speculation. Why create a post like this with zero info? If you know there are layoffs, you would know specifics, which is what people come here to see. When you post vagaries like this, it's nothing more than speculation. Post the specifics, or stop trolling.
While I do think the "end goal" is to move the company to India which was highlighted by selling the main campus in Illinois, I think there will be a few more years before mass layoffs again. Right now they are even paying retention bonuses in some departments. Unless you have a source I don't see it happening next year
Remember ….population in the USA is 1/4 that of India. They have so many more smart educated young workers than we do here in the USA. It’s easy for them to transfer everything they can to India ….while just keeping a few vps and other executives in the states. TONS of American businesses have done the same. Make a phone call to just about any “USA” company and see for yourself. Our business working class culture is shrinking. Easy to figure this out. Don’t elude yourself.
All this “hiring” is band aid action until the 2nd center in India is up and running. Wake up Allstate-ers. It’s very obvious what they’re doing and even more obvious since the managers are silent on the subject.
One word: India...
WTF are you talking about? There are staffing issues all across the company. They’re hiring people for good money left and right in some areas.
Haven't seen one of these posts in months.
I highly doubt it. Claims is severely understaffed. My department, for example, has been trying to hire people for months now.