Thread regarding Liberty Mutual layoffs

Company doing all it can

I believe the company is trying to do all it can to minimize the financial repercussions caused by the pandemic - including eventual layoffs. When you think about it, salary reductions and retirement buyouts could cushion how many will be laid off. I have to give credit where credit is due. Look at Wells, they are laying off hundreds if not thousands at a time. I for one am thankful for the leadership that we have.

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Post ID: @OP+17L6u2eX

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I agree. But like all other things our company had been up to. The layoffs and reorgs unevenly affected people of color. The closed direct centers were more poc and the reorged people tended to be poc. Obviously that will never come out. But our region there is now only 1 poc out of 60+ contributors.

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Post ID: @Gcgr+17L6u2eX

I tend to agree, but I think there was a conflict of interest on the buyout plan - most of the people partaking were planning on retiring anyway. I think many involved in the design of the plan could also get the windfall. I don't see how it helps the company financially unless you are right about salary reductions. That is, replace long term higher paid employees w/ newer lower paid employees w/ the intent of never getting the replacements to the same salary level of the retired employee. That is entirely possibly and could make financial sense for the company. There is always going to be downward pressure on salaries. It's an unfortunate reality. At the same time, our capitalist system does give us a higher standard of living as technology and increased distribution efficiencies increase. I think we will see more job cuts next year as the financial impact of Covid continue to dig in.

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Post ID: @2vnp+17L6u2eX

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