No more layoffs right now, but are we sure they won't spring something like this on us in a month or two? With COVID-19 still around, they have a perfect excuse to cut as many people as they want with very little blowback. I know I might be paranoid, but I'm not sure how much more of this I can take.
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Mark my word, these jerks knew they were going to lay off. The following is public shareholder record, by the way. On May 6, Glen Shapiro sold 7,398 of his Allstate shares for a profit of $766,669. Same day, Jesse Merten sold 18,622 shares for a profit of $1,913,410. On May 7, Mario Rizzo (CFO) sold 6,670 shares of his stock for a profit of $676,271. Same day, Tom Wilson dumped 652,868 shares of his stock for a whopping $66,147,421 profit! There were some additional stock sales that happened in June but you get the point. The fact that these liars dumped a ton of their stock just before announcing massive corporates lay-offs shows just how shady and greedy these people are. They may get to live high on the hog in this life but I’d like to think that they’ll pay the price for their greed in the afterlife.
They are not done yet, they said on today's broadcast office mergers which means closings, which means employees. I loved the part about the team that is working on the realignment - they have to learn the insurance business yet they are making the future - doesn't make sense to me. Expect more layoffs most likely start reviewing 2 QTR 2021 and layoffs 3rd Qtr notification and dismissal during the holidays 2021
To @vna+177Y06sA, careful wording in responding to the April/May town hall questions re: "will there be layoffs" does not excuse what followed. The problem is that a layoff hurts no matter the reasoning behind it. Allstate may have felt it was being transparent because of the June announcement, but the timing of that announcement (during a pandemic), the potential impact to "thousands" of Allstaters (at least 18 possibly 30 million Americans already out of work), and the delays in individual/office layoff decisions, contributed to a process that was handled terribly. I worked at Allstate for 20+ years (since retired) and I still respect many people there (at home office and in the field), but the changes I've seen over the years and what I've read on this message board indicate to me that the heart and soul of the company is fading fast. I don't know if it's TW or GS, doesn't matter. The result is the same. I wish the best of luck to those laid off and to those remaining.
And watch the down votes rain in... when asked about layoffs due to COVID the answer was “no, but that may change.” Also we were never promised that other factors wouldn’t cause layoffs.
April 2020 Town Hall Tom Wilson says no layoffs .
May 2020 Glenn Shaprio says no layoffs coming.
June 2020 Tom Wilson announces mass layoffs affecting "thousands".
Bottom line is these two are straight out liars.
On June 11, 2020, Tom Wilson, the CEO of Allstate gave praises and accolades to the company and employees during the company wide town hall meeting that was not recorded.
He went on to talk about how great the company and it's employees handled the COVID/shelter in place business continuity plan, with something like 95% of all employees working from home. He mentioned the refunds given to policy holders during the peak of the pandemic. I believe that was also the same town hall meeting where Tom virtue signaled the importance of inclusive diversity, also referring to brown skinned people as "The Blacks."
Anyhoo, at one point when talking about how great of shape Allstate was as a whole, Tom Wilson said, "Three months is long enough," (most of the company went home to work on or about March 13), and that we needed to get back to business. At that point, he announced mass layoffs across the enterprise.
Hope this clears up any doubt as to where the offical layoff announcement originated. It came from home office.
Not true. In April town hall Tom Wilson said no layoffs when concerns about COVID was brought up. In early May Glenn Shapiro also said no layoffs were on the horizon when the question was again brought up. Both of them flat out lied during those events. It doesn't get much more ivory tower than those two bozos. And of note many areas did not have kickoffs for 2020 due to being a "budget year" which seems to be every year.
The liars aren’t in the tower. The liars are in your local office. Home office preached during their kick off road show that transformative growth would mean staffing adjustments. Unless you were listening to your iPod when they came through, your local office hid this from you.
Considering in April and early May the serial liars in the ivory tower were preaching no layoffs and then in June announced mass layoffs coming anything is possible. We were all "safe" supposedly in April and May but not so much in June. What is considered "safe" in late September could certainly be much different come December although they would likely hold off until the new year but nothing is certain with this sh*tshow.
Can they do it again sooner than next year??? Like December? Not sure I can all endure the stress of waiting again and the extra load of work.
Considering their plan over the next year or two if you were selected to take an assessment now I would expect total role elimination and being laid off within the next year or two. Being "safe" now after assessment is just delaying what is almost a certainty later. Don't get too comfortable. With NatGen the company will be taking on almost 9000 new employees in 2021, many of those in claims roles. I am sure they will find "redundancies" with that which will most certainly need to be addressed.
More layoffs are coming. This is just the beginning.
They are not done. They said that next year they have to doubke there savings. Whether it is by people, buildings or other savings. Dont know what is included in the savings. But i am sure that will include people
They have been pretty open that cost cutting, including layoffs, will happen through the next few years as part of Transformative Growth. Also this site is for all Allstate employees and not just claims and there are areas such as ASAP, underwriting, and agency/customer service this are just now or will be soon taking assessments and announcing their cuts so the layoffs continue outside if claims.
They are not done yet. They have already eluded to that. No one is truly “safe”. Just means you made it past this first round. But, TW and the goonies have only just begun. If you are smart, get out while you still have your soul.