You can never tell if layoffs are masterminded and completely planned, but if HR has too many meetings with closed doors you got to be freaked out. I am in Warren.
Comment! It's anonymous! Post information you know, rumors you heard, your experiences, or contribute to the discussion by answering or asking about layoffs at ACE-Chubb (Chubb Corp.). The comment form is located near the bottom of the page.
Topics regarding layoffs at ACE-Chubb (Chubb Corp.)
True to Greenberg's insatiable quest to put more money in his pocket, Chubb has announced it will phase out the Chubb retiree health plan by 2026, This was one of the benefits that Henry Harder made sure was available to dedicated Chubb long term... read more
Chubb was very loyal and decent to its employees. I know I worked there for over 30 years. That all ended when Dean O'Hare left. He was the last vestige of integrity the company had. When Finnigan took over the strategy was set with Chubb's board... read more
Job cuts have been ongoing since March and continue to happen throughout the summer and fall. Rumor has it that if you are let go in 2017 the package is 4 weeks pay regardless of years of service. So I guess these folks are lucky because now they get... read more
Chubb was a great company to work for until the merger took place back in January. There are many departments that are now run by legacy ACE folks and have absolutely no work ... People just sitting around doing nothing. Another issue is that... read more
Ace needs to realize that the management at Chubb (local and Warren) are the most dishonest people. If one does not like you, they will do everything in their power to make sure you are destroyed as an individual. Long term HONEST, LOYAL, DEDICATED... read more
Now take a moment to process that, let it sink in.
They're cutting expenses... Yet look at Evan Greenberg's salary for 2014... Evan Greenberg, Chairman, president and CEO of Ace Ltd Base Salary: $1,200,000 Bonus: $6,250,000 Restricted Stock Awards: $6,825,052 All Other Compensation: $900,776 Option... read more
In a way, I feel blessed by leaving Chubb as my illness was caused by a combination of increased (and overwhelming) workload and poor management (both supervisor and management). If I stayed at Chubb, I may not have been able to handle the aftermath... read more
Reduction in cost to prove the takeover was justified will include a large head count reduction. ACE senior management thinks Chubb people have been coddled for too long and are overstaffed in many areas from a culture of we promote from within... read more
Any word on the Salem office? Ace bought Firemans fund, but it feels like the other way around. Salem office works hard and cheap, but the writing seems to be on the wall. No more Sr. Leadership - positions aren't being filled at that office - rumors... read more
Heard that there were lots of cuts affecting Warren last week. That's all I heard.
The company had perhaps the worst reputation among large carriers and culture towards its employees of any including AIG. For those at Chubb that still believe that they will be left alone to operate as a separate enclave within the ACE organization... read more
This is corporate greed at its best. 1) little Evan has to prove to his father he's a BIG man 2) Finnegan never invest a dime in Chubb. They should never of kept the Chubb name. It's being misrepresented. Shame
I think it's about 150K per job - so it adds up to a few thousands? Do we REALLY know how many people will be eliminated?
So word at "new" chubb is legacy chubb folks are waiting for bonus payouts in March and then the mass exodus will start. At least that's what they are hoping and will get them well on their way to cost savings. There are massive turf wars going on... read more
I was one of the victims of the 2011 EPC layoff. Chubb was a good company to work for, and they really took care of their folks. Best of luck to all who may be involved in any type of separation from the company.
Now I'm going to be in the **I.T
This is the company that I retired from last May. Man I am so glad I did. The comments you're reading and the lost your seeing are from people that I've worked with for 15 years. Be strong.
Retired 2015, boy am I glad
"Craftsmen" and "craftsmanship"... Didn't anyone think about how women also work at this company?
It's closing at the end of the year - please do not lie
They are really flexible with employees work schedule, which is a good thing. They are always trying to provide employees with an extraordinary work environment. But, on the other hand balance between life and work is good just for lower level... read more
It seems like some folks are already updating their resume. Situations is not good at all. Who will be hit the most... We will end up outsourcing almost everything.
This is a stable company and financially conservative company. It is a definitely a good place to be with the current economy. Lots of smart people, they valued characters. i would say it is a good job security in tough times.
Just a couple of things to say about my office: Mgmt doesn't know how to communicate, supervisors are not knowledgeable and they barely know what is going on during the day. My advice to they would be to listen to their employees.
Some managers are not suited for their jobs - they have lack of knowledge, poor people skills - but still sticking to the position just because they have been with the company for a long time. The salaries are pretty low compared to other companies... read more
Good luck to all of us, looks like we are going to need it.
See the linked interview where Greenberg basically says that the new company will be Ace with the Chubb brand & book. If you thought the Chubb culture might survive, you were wrong. http://m.institutionalinvestor.com/Article.aspx?ArticleId=3520126
Chubb is not the only company suffering right now, it's only January in 2016 and many property casualty insurance companies had layoffs
You guys probably know already, but if you are in one of the groups listed above the consultants are looking at your name right now. Get ready, network, update your resume, pack stuff, save money. It's coming sooner than we expect. God bless.
Probably common knowledge, but for those not "in the know," Chubb's Warren HQ will be closing within 90 days. Employees will be moved to other offices, especially Whitehouse Station, where Evan Greenbergs new office is being constructed...
650million in savings by year 3. Expect accelerated layoffs in year 2 into 3. Will maximize learning opportunities in year 1 of integration then start accelerated cuts. They are banking on a lot of chubb people leaving. Would estimate 2000jobs lost... read more