Thread regarding Liberty Mutual layoffs

Is there a safe alternative?

One of the things I used to enjoy about this place is job security. Sadly, I don't think we have it anymore and I don't think anybody is safe from future RIFs. But I'm not sure where to look for another job? Everybody seems to be laying off. Might be just the pandemic, or it might be this industry, I can't tell. Is there a safe alternative out there?

| 5101 views | | 4 replies (last August 12, 2022)
Post ID: @OP+17R0ziHn

4 replies (most recent on top)

The entire insurance business is being disrupted. The business model is changing and the legacy P&C insurance companies are not able to transform and adapt rapidly to these changing forces happening right now. I work at USAA which is spiraling into the toilet too. Major budget cuts, ongoing layoffs, toxic bad leaders and general denial of what is going on.

Post ID: @akuwl+17R0ziHn

No safe alternatives, its the industry, which seems hellbent on creating a high turnover toxic environment for its employees overall.

The era of people owning tons of personal property that needs insurance is slowly dying out. Its being replaced by people who might own a very inexpensive car, while car use is still allowed, that will need cheap insurance, but nothing more, you wont have people with multiple lines of home, auto, and commercial insurance, which is a legacy many insurance big boy companies can live off temporarily.

Right now i would say there are a few companies left that have a shred of humanity left between metrics, meeting about metrics, creating metrics, reviewing metrics, discussing how to manipulate metrics....whatever takes their minds off a crumbling culture that is suppose to be deeply caring about losses towards customers. This is temporary however, takes one CEO change for everything to get flipped on its head overnight.

Right now I would say Allstate being the absolute worst towards employees, and maybe GIECO and smaller companies being towards the top end, granted once Buffet dies off im sure GIECO will court Allstate/StateFarm ect for metrics based management to replace and start their downward spiral.

I hear Liberty Mutual is about the same across the board as all the other name brand insurance. Metrics, Transformations, High Turnover, Reduced benefits, increased workloads, and lots and lots of toxicity. I actually might consider applying since starting pay seems to be rock solid, my only qualm leaving where im at, is we do hourly pay, and OT is paid for and discouraged usually. Not sure if an extra $15k/year is worth giving up my non-work life. But it would be me leaving a toxic metric based life where i get free time, to the same without freetime but more money. This is how you need to look at your decision. Expect both companies to be toxic and in a downward spiral.

Post ID: @3hasp+17R0ziHn

My department has a meeting tomorrow morning and its very vague- no reason for it provided. All upper management is on it as well. Im concerned it could be reorg/layoffs. I dread the meeting.

Post ID: @1Jyuq+17R0ziHn

I think there will good opportunities on the technology side of insurance for perhaps up to the next 10-15 years. I think it is generally much more complicated to run than banks on the sales and claims side- perhaps similar on the finance side. That said, once we cycle into the majority of cars having accident avoidance technology (maybe close to 10 yrs from now) and much better technology on the claims side, I think the number of opportunities will dramatically shrink. I think the less insurance we need, the better things are for society, but we're easily over a decade away from that.

My guess is that they will try to Uberize much of what we do. Why employ us when you can contract us out when needed. I think the pandemic will lead to a dramatic increase in work from home which will eventually lead to contract only work for a large number of roles in insurance.

There are some good, smaller companies out there. They can be good jobs, but then those companies generally get bouught out by the big boys and then you are on the job hunt for a while.

Approx 3k people took the early retirement deal. That will leave a lot of empty desk w/ lot of work to do. I think we're relatively safe for perhaps 2 years.

Post ID: @2nfo+17R0ziHn

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