Thread regarding Prudential layoffs

Any news on the 2021 layoffs to meet cost cutting objectives?

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| 2282 views | | 14 replies (last )
Post ID: @OP+17XH2sfe

14 replies (most recent on top)

McKinsey is involved, so cuts will be deep and last a long time....

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Post ID: @1hvje+17XH2sfe

Anyone know the timing of when it will start?

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Post ID: @Bqhc+17XH2sfe

I wonder if layoffs will really happen, and to what business units and locations?

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Post ID: @vsat+17XH2sfe

The VSP was round 1. Then came forcing people out. Next year is round 3, layoffs and forcing people out. PRU is looking to reduce costs. Expect to see changes in reporting structures, elimination of management layers etc. I would expect to see Director and VP positions re-classified. I'd also expect to see continued outsourcing of support services.

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Post ID: @hwwj+17XH2sfe

How many (or who) from Global Technology were made let go?

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Post ID: @bsqo+17XH2sfe

I think layoffs will start in March. There is lots of room to cut head count.

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Post ID: @9xoq+17XH2sfe

What businesses are being targeted for re-org/layoff?

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Post ID: @3tsn+17XH2sfe

Global Technology started this morning

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Post ID: @3jzs+17XH2sfe

2021 will be a bloodbath indeed. The "Transformation" they've been talking about all year is really just about making everyone redundant or moving them off shore or to a vendor. It will destroy Newark.

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Post ID: @3umu+17XH2sfe

The rebadging thing is tough, That seems to be the new normal

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Post ID: @3aki+17XH2sfe

Group Insurance did...sort of. They rebadged a bunch of people to be Accenture employees. Some people already moved to Accenutre, the rest will be next year. And some people are losing their jobs over the next year.

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Post ID: @3czc+17XH2sfe

Did Group Insurance have layoffs? I did not hear that one.

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Post ID: @1yva+17XH2sfe

Depends on the business unit. Group Insurance has already told most of the people. Heard Retirement is soon.

My bet...2021 will be a bloodbath.

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Post ID: @1yss+17XH2sfe

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