I know claims will be hit hard. What about other depts?
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Auto claims had layoffs. Claims adjusters are overworked as it is and they laid off 20 recently. Adjusters thought that they were safe due to meetings that said no layoffs with Covid only to hear of the layoffs and no notice beforehand, the day they heard was their last day. Now many of the adjusters are worried. Doesn’t do much for morale when adjusters are already stressed out with workloads.
Why OPP? A: Your immediate manager and next level up have an idea of what you do. But in a normal budget planning exercise, it always turns out that those manager always need everyone.
But, when things get bad, it is the very high managers and maybe HR that make some decisions. They have pretty much no idea what you do, except for what they find in OPP. True the lower levels will get some say.
"one people place" - pretty pathetic that they really have no idea what people do and so rely on OPP.
The ball has started rolling. Heads up. Whole departments to update their OPP profiles in 3 days. Traditionally this a precursor.
Look for the early warning signs –
If you see projects getting reduced in scope, or canceled, or external service agreements being concluded, or new projects not being funded like they used to be, then there is a good chance that people will lose jobs.
End of year layoffs are not out of the question. They are cold and will do it in the blink of an eye. Then tell you it is not personal. My coworker was told last year a week before Thanksgiving that she was done on 12/31. "Enjoy your holidays!"
"end of year" would be truly cold. Only truly desperate companies layoff in November and December because it's too close to holidays. Not that leadership necessarily cares, but the Public Relations would be a nightmare. So, they avoid end of year.
If anything is going to happen, it's got to be before November (October 31 or before), OR After January 1st. Once the bonus pot is locked in by Dec 31, any layoffs that happen before the bonus payout increase someones bonus. This is because the full pot must be paid out according to accounting rules.
That said, I'm not seeing any signs of impending layoff. Are you?
Earnings seem pretty good, all things considered.
Maybe just very tiny layoffs? One or two every now and then.
IT did a budget exercise. Kept almost all FTEs.
Khalaf said we were good on the 12.3% direct expense promise.
end of year
Nah, the bare minimum employees are a permanent fixture for the Next Horizon, LOL. Really a shame that good honest workers are getting sacked.
Why would claims be hit hard? I would think sales, especially group?
None that I've heard of.