Anyone have any word about layoffs in work comp, with coronavirus wondering about low counts due to unemployment
7 replies (most recent on top)
Very sad we have all this Senior Management and Exec''s that have been brought in over the last 3 years along with consultants to tell them what they should already know what to do to turn this company around. With the amount they get paid and their STI, LTI, stock, and other benefits, no wonder they have to do RIF's. Shameful they didn't give up anything like other companies did during the COV-19, while the employees are working hard and putting out all these fires. We can do an outstanding job but never have we received a 200% STI. This is something that should be investigated because most of us received 100% or less. Why don't they give their STI's back and distribute to the employees, like at least another $500 and at the same time use some to save some RIF's
don't worry, rifs are a comin. we have a new exec to pay for, new global head of specialty! we cant fill positions for people that have resigned, but we can hire a new global head every other week.
this one is another crony, seems that Lloyds is the new source of friends to hire.
we have a bunch of global heads around here, just no business. im sure this guy will turn it all around, just like the multitude of other global heads that have come here in the last few years. I feel better already (lol)
another 7 figure salary on the books. how much do you make?
😂. Yeah, dude, I know that claims is actually important. I’m talking about the attitude of people outside of claims, and those are the people who are really making these decisions.
Have you ever had a business analyst time how long you spent thinking? To the second, that’s how much time you should now need to think when you’re handling a claim.
For the record, I hope there aren’t layoffs, but we all know there will be.
Whoa, the oracle has spoken. @1wno+14zP4nFJ: now that you have weighed in, yours is the least important opinion here. Everyone outside of claims thinks the insurance universe is dominated by purchasing a policy, and paying premium. Do you not realize that an insurance transaction usually becomes most relevant to a client only when they have actual claims? I have almost always seen the expense ratio called into question, but almost never the loss ratio.
Whoa, pendings under 80. Call 911.
I think there will be layoffs, eventually. Claims is the least important job here. They’ll start evaluating staffing daily and then you’ll know we’re all in trouble.
Not all claims understaffed, I know some with caseload under 80
Claims is already understaffed here, so layoffs unlikely. They will use this time to get everyone caught up, and that way they don't need to hire more people