Topics regarding layoffs at GEICO

Topics regarding layoffs at GEICO

I regret every day that I’m still with Geico

I survived layoffs, felt good about it for five seconds, then started realizing that keeping a job here wasn’t a win. I hear all the time from veterans about how good this place once was to work at. I’m beginning to think that they’ve been imagining... — read more 

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Post ID: @OP+1vSWHkGW

Todd Combs‘ Track Record

Not my post but here is an opinion… Todd Combs has ruined what was once spectacular. Here’s his resume at GEICO Took away profit sharing Eliminated nearly 50% of the associates ~48700 down to ~27000 Took away good healthcare to horrible... — read more 

Some were fired

Looks like those who were laid off are the lucky ones. At least they received severance, which means a lot in such a situation. I've heard of several people who were outright fired, supposedly for bad performance. I know one of them and I can tell... — read more 

Layoffs

Geico laid off 400 yesterday. Blamed it on an untrue performance. They were offered a 2 month severance package., even for employees that were with the company for 20+ years. Geico has become a terrible company.

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Post ID: @OP+1tOiiZwQ

Tech Layoffs

https://www.reddit.com/r/Geico/s/nmTs1unzql

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Post ID: @OP+1tOIyjDW

Bad experience with few recruiters are stupid

Moving forward, it might be best to focus your energy on other opportunities and companies that value clear communication and respect candidates' time. You never know, a better opportunity could be just around the corner!

GEICO to layoff 25 people in North Liberty

GEICO is laying off 25 people at its North Liberty office, according to the Iowa Workforce Development’s WARN website. The layoffs will go into effect Dec. 18. The North Liberty office opened a little over two years... — read more 

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Post ID: @OP+1poqGy0C

Losses

GEICO had a pre-tax underwriting loss of nearly $1.9 billion in 2022 (the uw loss comes from property & other lines, not just auto). Geico reported a $703 million underwriting profit for Q1 2023, after reporting a loss for six consecutive quarters... — read more 

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| 1358 views | | 5 replies (last October 28, 2023)
Post ID: @OP+1pjj0zXf

media coverage

GEICO lets 2,000 employees go, latest insurer to make cutbacks RDN https://www.repairerdrivennews.com/2023/10/23/geico-lets-2000-employees-go-latest-insurer-to-make-cutbacks/ WA employees reportedly affected by Geico layoffs SEATTLE... — read more 

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| 840 views | | 1 reply (October 28, 2023)
Post ID: @OP+1pjtN30P

Claims

If you are in Claims you should be alert - they keep evaluating Claims staffing and the execs think it's is overstaffed. They got hit hard but I think there will be more layoffs so you may want to consider your options - make sure that resume is... — read more 

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| 1055 views | | 1 reply (October 28, 2023)
Post ID: @OP+1pjkiRr3

Sad

It's sad that this is what everyone is hearing. See I had worked for Geico and for the last two years, they let 10% from each department go every 6 months. But they have a small spike and announce it and then it's suddenly a big deal. I was let go in... — read more 

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| 1175 views | | 2 replies (last October 28, 2023)
Post ID: @OP+1phTN1fm

GEICO - 6% Layoff (October 2023)

GEICO laid off hundreds of employees - about 6% of their total workforce. A "restructuring plan" is progress but we all know it's really just to cut costs. Those layoffs impacted people across different departments too. At the same time, GEICO is... — read more 

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| 1397 views | | 2 replies (last October 25, 2023)
Post ID: @OP+1peZ2w0z

More info on layoffs

Can somebody please provide more info on layoffs? I have no idea what's going on, if it's over, what was affected... There is so little info available and that's making me very nervous. Please, if you know more about what's happening, don't keep it... — read more 

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| 905 views | | 2 replies (last October 25, 2023)
Post ID: @OP+1peJeqLl

Word from the “CEO”

Positioning GEICO for the Future Fellow associates, I am reaching out to you to share an important company update and the vision for the future of GEICO. We have seen significant changes to our company over the past few years, and we have evolved our... — read more 

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| 2344 views | | 6 replies (last October 25, 2023)
Post ID: @OP+1pazeSus

GEICO employees report 'mass' layoffs

Insurance company GEICO has undergone another tranche of layoffs, employees have reported on social media. Several members of staff at insurer GEICO have taken to LinkedIn to confirm they were part of “mass” layoffs last... — read more 

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| 1816 views | | 2 replies (last September 20, 2023)
Post ID: @OP+1oepk5MV

NY GEICO LAYOFFS

Tons of layoffs including staff counsel

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Post ID: @OP+1oaXVenE

Reality TV Show Ideas

GEICO and USAA should do a reality TV show together called Sh-t Show Wars since both companies have turned into giant sh-t shows by clueless, overpaid executives with sh-t for brains.

More layoffs at Geico

IT was being hit rather hard yesterday, not sure about other areas. Does anybody know more about how many were laid off in total? Geico management likes to be secretive about layoffs (I guess they're trying to protect the reputation or something) so... — read more 

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| 6469 views | | 4 replies (last August 23, 2023)
Post ID: @OP+1lp5vppN

Severance

Does anyone know what the servance policy is? I'm in the SD area worried I'll be laid off soon. Want to prepare for what's next. TIA

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| 6012 views | | 3 replies (last October 19, 2023)
Post ID: @OP+1jatFPSp

Light

Hey everyone- in less than a week I have interviews with several of our competitors. Look at the big ones on both the auto and home side, seems to be better pay options out there as well. Stay strong

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Post ID: @OP+1j7FerJW

Worried

I’m in claims and I’m worried. We have a lot of phone availability right now (granted when we become ICS it will probably drop quite a bit) and they are training new CSR folks for ICS right now, like just newly hired folks and then we become ICS... — read more 

New round of IT layoffs

Approximately 350 people got laid off. Whole manager groups, none of the middle management seen it coming.

How many people are affected?

I am still safe, although I heard that Cybersecurity and Marketing are affected, but I have no information how many people were cut. Any insights? Also, I wonder if there will be more?

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| 4355 views | | 1 reply (October 3, 2022)
Post ID: @OP+1j1dn8I6

Additional Layoffs

Well, cybersecurity is now the current department with people getting laid off. What a fantastic day at GEICO! Update: Layoffs are impacting other departments today too. Marketing has been confirmed. DevOps Core and audit are the suspected... — read more 

No to Union

That's just complicating things. Unions are leaches.

RTO

They’ve been trying to gaslight us into thinking we want RTO for almost 3 years. It’s not working on anyone.

What's next?

Will there be more layoffs and closings any time soon?

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| 4401 views | | 1 reply (August 3, 2022)
Post ID: @OP+1i2xevdo

Don't panic

Layoffs at GEICO are a fluke. We're doing well and we'll continue to do well. If you're worried, that's entirely on you. If there were cuts, they were needed and I'm betting you it was the low performers who were hit. It has to happen from time to... — read more 

Is it just IT?

What are the chances layoffs will hit more groups in addition to IT? I usually don't worry about layoffs all that much but this news combined with layoffs throughout the entire industry and well beyond it is changing that. Maybe I'm overthinking... — read more 

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| 4380 views | | 1 reply (September 16, 2022)
Post ID: @OP+1hQgGwU9

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