Thread regarding MetLife Inc. layoffs

I think we are about to be hit with layoffs

How else is MetLife going to pay the increased dividend? I think they plan to use the coronavirus pandemic as a reason for cutting a bunch of people when there would have been no need for it if the dividend had stayed the same. I might be overly paranoid, but I'm rarely wrong about things like this.

by
| 2250 views | | 16 replies (last )
Post ID: @OP+14Qk2nm5

16 replies (most recent on top)

In recent video CEO stated they are looking at everything including layoff people

by
|
Post ID: @1dvcp+14Qk2nm5

Much budget changeing in IT. Few employe loss. But contracter layoff.

by
|
Post ID: @Vtnh+14Qk2nm5

I don't know if we're about to be hit by layoffs, but I do think we are about to be hit with "microaggression" and "inclusivity" training.

Didn't smile and greet someone in the hallway? 5 yard penalty.

by
|
Post ID: @Hipt+14Qk2nm5

I'm hearing nothing.

by
|
Post ID: @Cjdm+14Qk2nm5

Kind of quiet here. Anyone hearing things?

by
|
Post ID: @ykhp+14Qk2nm5

Nothing official. But it makes sense.

Bonus are based on meeting a target. CFO said target was 4% higher this year, I think.
Most years are good, target is hit, bonus is paid, everyone is happy.
This year, maybe things aren't so good. Targets (pre-COVID) aren't hit. So the bonus adjusts.

I'd rather have a smaller or zero bonus and still have a job, and I think most people would.
Better than a salary cut, too. Just don't put a deposit down on a swimming pool with expected bonus money.

Maybe some high flier will be disgruntled and want to go elsewhere.
Where they gonna go?

Did it stick?

by
|
Post ID: @8qbq+14Qk2nm5

@nolayoffnobonus I mean that doesn't sound like anything other than throwing c-ap at the wall to see what sticks on your end. Any reason to believe any of this? Do you have sources, or is it just your own made up theory?

by
|
Post ID: @7acj+14Qk2nm5

@nolayoffnobonus – Would we be enrolled in "jelly of the month club" instead?

by
|
Post ID: @7ltf+14Qk2nm5

There might not be layoffs. Or not many.
The company might just not pay bonuses for 2020, or pay greatly reduced ones.
What do you think?

by
|
Post ID: @7yyo+14Qk2nm5

"Layoffs will happen in the fall"

To the OP - is this based on your own speculation, rumor, or real first hand knowledge?

by
|
Post ID: @7ubs+14Qk2nm5

Layoffs will happen in the fall

by
|
Post ID: @7ykl+14Qk2nm5

https://www.businessinsider.com/tiaa-introduces-voluntary-separation-package-for-75-percent-of-workers-2020-5?op=1

by
|
Post ID: @5szs+14Qk2nm5

of course there will be layoffs— there is no way around it
even TIAA announced today they were giving packages to 75% of their workforce in the USA

100% there will be layoffs— but hey hope Im wrong

TIAA, one of the 10 largest issuers of U.S. annuities, is offering three-quarters of its U.S. employees a voluntary-separation package.

The buyout includes 45 to 91 weeks of salary, depending on tenure; 100% of last year’s cash bonus; up to 18 months of employer-subsidized medical coverage; and six months of outplacement assistance, a TIAA spokesman said.

The offer was presented in an all-staff call on Friday, according to Business Insider, which first reported the news.

Certain teams involved in process and technology functions that are necessary to conduct business, and some critical client-support roles aren't eligible for the package, the spokesman said.

Employees will learn this week whether they qualify, said one of Business Insider's unnamed sources. TIAA employs about 16,500 globally.

TIAA sold $9.86 billion of annuities to individuals in the U.S. last year, ranking ninth, according to data from the Secure Retirement Institute.

"As we navigate through these unprecedented times, we are exploring a variety of measures to reduce costs while managing our business and continuing to serve our clients," the spokesman said.

Eligible staff have until mid-July to take the package, and will be approved or denied by Aug. 3. Those who are approved will exit on Nov. 2.

This article was originally published in the May 11 edition of FundFire, a sister publication. It was edited for Life Annuity Specialist.

by
|
Post ID: @4efz+14Qk2nm5

"I'm rarely wrong about things like this" - Obnoxious.

by
|
Post ID: @3mlc+14Qk2nm5

Would the downvoters please explain why they downvoted?

Are you downvoting because you think it might be true and it makes you cry?
Or are you downvoting because you disagree?

by
|
Post ID: @2sie+14Qk2nm5

It's hard to say. Earnings were pretty good.
It might depend on whether employees cough up enough money saving Next Horizon ideas.

by
|
Post ID: @oft+14Qk2nm5

Post a reply

: