Topics regarding layoffs at GEICO

Topics regarding layoffs at GEICO

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 

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 

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 

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 

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 

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 

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 

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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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 

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 

RTO

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

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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| 4272 views | | 1 reply (September 16, 2022)
Post ID: @OP+1hQgGwU9

Additional IT Layoffs

this was passed along anonymously Business plans are circulating and senior management has shared additional information with lower level management. Nothing but grim news for IT. Scrum teams will no longer have analysts. Every analyst will be... — read more 

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