Are they inevitable for claims? Feels like volume is down I’m some areas ? Personally, I think it’s due to staffing module. It feels like every few months an area is affected, but it’s been a while for claims ? Thoughts?
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Haven't heard anything.
But, today is a Friday, the last working day of the month, and slightly more than 60 days before the end of the year.
Layoffs in the auto subrogation department??
Are lay off people getting any kind of packages or benefits? Are they permanently laid off?
How large? and Yes, where?
I haven't heard anything about it except for the mention here.
It doesn't make sense that MetLife would do a significant layoff until 1) the acquisition of the Vision Provider closes and 2) until we have bad quarterly numbers.
To layoff while negotiating an acquisition would seem, indeed would be, weak. Course, now that the deal is signed, that isn't a consideration unless there are other potential acquisitions in the works. Layoffs can also make us look weak to potential policyholders.
As for #2, our numbers have been pretty good, so far. But, they depend more on investment returns than on underwriting results. Low interest rates aren't good, but we've done well with derivatives hedging changes in rates. But, if our derivative bets go against us, it will be a bad quarter, maybe year, and I'd guess that significant layoffs will be on the table.
Large round of lay offs where?
They just did a large round of Layoffs
Heard it was happening today in claims
OMG..... totally, 100% agree!!!!!
I wouldn't think claims would have a layoff.
Sure, maybe some lines have fewer claims right now (auto?), and maybe there are some efficiencies. that have been gained with "robotics" etc. But with the whole Lean thing, wasn't there a promise that people would be re-allocated and not laid off (and implicitly that natural attrition would account for any reductions)?
That said, there are job functions that could be cut. I'm thinking of the conference call hangers and of the yammer cheerleaders. Those could disappear and the customers wouldn't even notice. Whole layers of middle management could go. And they would. Except for two things: 1) these folks protect each other and 2) Upper management doesn't know who is important and who isn't.
What is "staffing module"?